Common property resources include resources meant for common use by a community like grazing lands, forests, wastelands, water bodies, and threshing floors. They are accessible to and collectively owned/managed by an identifiable community with no individual exclusive rights. Examples of common property resources include village forests, grazing lands, threshing floors, government forests of different classifications (reserved, protected, unclassified), and common water resources for domestic and agricultural use. If left unregulated, common property fishery resources can face overexploitation as no individual fisherman has incentive to restrain catch, leading to economic inefficiency.