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This is also known as a common property resource, impure public good or sometimes erroneously as a common pool resource. [13] A common pool resource however is often managed the group of people that have access to that resource [14]. Examples of this can be air, water, sights, and sounds. Tragedy of the commons refers to this title. An example ...
Real estate economics is the application of economic techniques to real estate markets. It aims to describe and predict economic patterns of supply and demand . The closely related field of housing economics is narrower in scope, concentrating on residential real estate markets, while the research on real estate trends focuses on the business ...
There are multiple dimensions of state capacity, as well as varied indicators of state capacity. [10] [11] In studies that use state capacity as a causal variable, it has frequently been measured as the ability to tax, provide public goods, enforce property rights, achieve economic growth or hold a monopoly on the use of force within a territory.
In general usage, rent refers to a payment made in exchange for temporary use of property, for example paying rent to stay in an apartment. In economics, rent is any payment to an owner or factor of production in excess of the costs needed to bring that factor into production. Effectively, it is payment made to a producer above and beyond what ...
Some United Kingdom and commonwealth universities offer courses in land economy, where economics is studied alongside law, business regulation, surveying, and the built and natural environments. [ 9 ] [ 10 ] [ 11 ] This mode of study at Cambridge dates back to 1917 when William Cecil Dampier suggested the creation of a school of rural economy ...
Examples of monopoly rent include: rents associated from legally enforced knowledge monopolies derived from intellectual property like patents or copyrights; rents associated with 'de facto' monopolies of companies like Microsoft and Intel who control the underlying standards in an industry or product line (e.g. Microsoft Office); rents ...
In his article on Economic de-growth vs. steady-state economy, Christian Kerschner has integrated the strategy of declining-state, or degrowth, with Herman Daly's concept of the steady-state economy to the effect that degrowth should be considered a path taken by the rich industrialized countries leading towards a globally equitable steady ...
The idea of the crowding out effect, though not the term itself, has been discussed since at least the 18th century. [2] Economic historian Jim Tomlinson wrote in 2010: "All major economic crises in twentieth century Britain have reignited simmering debates about the impact of public sector expansion on economic performance.