Here is the synopsis of our sample research paper on Communal Property and the Importance of Economics. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This is a 3 page paper that provides an overview of the importance of economics to everyday reality. Issues such as communal property law as well as scarcity and demand are explored. Bibliography lists 5 sources.
Page Count:
3 pages (~225 words per page)
File: KW60_KFpodcas.doc
Buy This Term Paper »
Unformatted sample text from the term paper:
listed below. Citation styles constantly change, and these examples may not contain the most recent updates. Communal Property and the Importance of Economics , 3/2011
--properly! The exchange of property is in many ways foundational to the very concept of economics. Without the exchange of commodities
in exchange for the ownership of other commodities, there is no economics, and without the concept of private property there is no such exchange. Even so, there is room within
even the most contemporary economic frameworks to consider alternative models of property, so long as one is aware of the limitations of those models. For example, one must be diligently
aware of the risks inherent in communal property systems to catastrophically erode those resources which are regarded as common property. This phenomenon is known as the tragedy of the commons.
This paragraph helps the student explore the concept of the tragedies as set forth by Yandle. In a recent economic talk given by Bruce Yandle, the principle of the
tragedy of the commons was invoked. Interestingly enough, Yandle asserts that the original conception of the tragedy requires some expansion, and there are actually two forms in which it can
manifest. The first form of the tragedy is the traditional one, in which those individuals who share in the ownership of a property have a tendency to overuse the resources
of that property to the point that the resource is exhausted and all participants suffer as a result (Yandle 2007). The second form is in the loss of energy required
to gain access to resources, which in many cases eventually grows to outweigh the gain in energy (or capital, to extend the analogy) the resource provides (Yandle 2007). To
...