The given statement is True which represents a tragedy of the commons.
One family has more cars than what can fit in their driveway, so they park extra ones in their neighbor's yard. over time, some spots of grass on the neighbor's lawn are no longer green near where the extra cars are parked.
Due to an externality, the Tragedy of the Commons occurs. The amount of good land that is available to other families is diminished when one family's flock grazes on shared ground. The result is an excessive amount of sheep since people fail to consider this unfavorable externality when determining how many to own.
The tragedy of the commons is when an overabundance of a good or service occurs as a result of reasonable people making choices that have negative effects on everyone's welfare.
Thus, The above statement, which illustrates a tragedy of the commons, is True.
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