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Property rights are constructs in economics for determining how a resource or economic good is used and owned, [1] which have developed over ancient and modern history, from Abrahamic law to Article 17 of the Universal Declaration of Human Rights.
[54] Wurundjeri, Yorta Yorta and Taungurung man Andrew Peters expressed the view that "using the phrase ‘traditional owners’ indicates an Indigenous definition of ownership that has never involved monetary payments, title, or exclusive rights, but rather the recognition of thousands of years of respect, rights and responsibilities shared ...
In economics, economic rent is any payment to the owner of a factor of production in excess of the costs needed to bring that factor into production. [1] In classical economics, economic rent is any payment made (including imputed value) or benefit received for non-produced inputs such as location and for assets formed by creating official privilege over natural opportunities (e.g., patents).
And for unknown traditional owners: [28] I acknowledge the Traditional Owners of the land [or country] on which we are meeting. I pay my respects to their Elders, past and present, and the Elders from other communities who may be here today. The City of Adelaide's wording is (specifically tailored for the local Kaurna people): [16]
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Welfare economics is a branch of economics that uses microeconomic techniques to evaluate economic well-being, especially relative to competitive general equilibrium, with a focus on economic efficiency and income distribution. [13] In general usage, including by economists outside the above context, welfare refers to a form of transfer payment ...
Owners feared government intrusion in the Progressive Era, and labor uprisings from 1917 to 1919—including strikes against "benevolent" employers—showed the limits of paternalistic efforts. [18] For owners, the corporation was the most responsible social institution and it was better suited, in their minds, to promoting the welfare of ...
A traditional economy is a loosely defined term sometimes used for older economic systems in economics and anthropology. It may imply that an economy is not deeply connected to wider regional trade networks; that many or most members engage in subsistence agriculture, possibly being a subsistence economy; that barter is used to a greater frequency than in developed economies; that there is ...