The overuse of a common resource relative to its economically efficient use is called

A) the free-rider problem.
B) the Tragedy of the Commons.
C) a public good.
D) cost-benefit analysis.

Tragedy of the Commons

The Tragedy of the Commons is a situation in a shared-resource system where individual users acting independently and rationally according to their own self-interest behave contrary to the common good of all users by depleting or spoiling the shared resource.

Economically Efficient

A situation where resources are allocated in a way that maximizes the net benefits to society or achieves the desired output with the least possible input.