Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Open Access Resources and Common Property Resources
'Property rights' represents a set of characteristics that offer certain exclusive power to the owner of the resource. 'Exclusivity' is an important concept in defining property rights. However, there are certain natural resources where 'exclusivity' is not applicable. For instance, take fishery and forestry, which are common property resources.
The owner has non-exclusive rights. He has to share the resource with others. It becomes nobody's resource and everybody's resource in the end. It is also known as open access resource. The presence or absence of exclusivity has some important implications for many economic issues. With private property rights, markets will allocate resources efficiently.
However, in the case of common property resources market mechanism does not lead to efficient allocation and some intervention is needed. This is because no one can prevent others from using the resource and from appropriating a share of rents from the resource.
Assignment This assignment will provide you with insight on how others perceive you. It will be particularly useful in situations in which you find differences in self-other resul
Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4
explain the stages and various coordination mechanisms involved in policy processes
How burden of public debt is transferred to future generations through reduced capital formation?
Public Finance was always dealing with intervention through fiscal instruments, including federal relationships between different tiers of governments and later on it subsumed Publ
Ask question #Minimum 1000 words accepted#
Question: (a) Jeffrey Sachs, Columbia University's Earth Institute Development Guru, opines that the humble mobile phone is "the single most transformative tool for developmen
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd