(a) Explain why certain types of environmental pollution can be characterized as a "global tragedy of commons." Give an example of environmental pollution that leads to a global tragedy of commons.

(b) Developed countries typically demand cleaner environment compared to developing countries and as a consequence have stricter environmental regulations, independent of environmental regulations in developing countries. But when it came to the Kyoto protocol on reducing the emission of greenhouse gases, why did developed countries like USA, Australia etc. refuse to act independently and ratify the protocol in the absence of guarantees by developing countries like China, India etc. to substantially regulate their own greenhouse emissions? How does this contribute to the global tragedy of commons?

(c) International businesses frequently find themselves facing ethical dilemmas. Define an ethical dilemma. Give a specific example of a scenario where the adoption of a uniform ethical code by international businesses that is blind to the prevailing conditions in the host country could lead to an ethical dilemma?