The buffalo on the western US plains were nearly hunted to extinction in the 1800s

B. common property resource

Common property resources often lead to market failure due to overexploitation. Common property resources can be defined as a resource that is rivalrous but non-excludable. It means there is no restriction on anyone using but when one uses it others cannot use the same good. Common property resources are considered as the lifeline for the communities living in the region where they are present. They are important for the livelihood and subsistence of the people who are dependent on those resources. They are especially important for the rural people and their economy as they are mostly dependent on activities like agriculture, forests produce gathering, etc.