Topic 3 DQ 1

docx

School

Phoenix College *

*We aren’t endorsed by this school

Course

390

Subject

Economics

Date

Jan 9, 2024

Type

docx

Pages

Uploaded by Lon12dyn

Topic 3 DQ 1 Dec 11-13, 2023 Population is growing, which creates more demand for water, especially in the southwestern part of the United States. In general, states are using more water than the system can supply, diminishing this limited resource.

Utilize the Chapter 11 textbook reading, which covers concepts related to common resources such as water and the tragedy of the commons, as well as the podcast "Water in the West: Bankrupt?" provided in the topic Resources to address the following:

 How would water bankruptcy work? Include who benefits and who loses as a result.  Provide an alternative way in which a water shortage problem can be resolved?  Hi all,  Chapter 11 in the textbook reading explains a story the growth of population begins

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

causing issues for the small town, as there is too large of an increase in both sheep and population, causing the land to lose the ability to replenish itself. With no grass left, raising sheep is hard leaving leaving the wool industry in shambles. However there are options to help fix the issue. The

land could be divided among town households by the town. Each household can enclose their area of land with a fence and protect it from overgrazing. As a result, the land becomes a private good rather than a shared resource.  Much like this fable, the question being addressed consists of a lack

of common resources such as water. Essentially, when one person takes a shared resource, it reduces the enjoyment of others. Because of this negative impact, shared resources are over- utilized. The government can address the issue by enacting laws or imposing taxes to decrease

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

utilization of the shared resource. Alternatively, the government can occasionally convert a shared resource into a private commodity much like what was done in the fable. I live in California. We had a water shortage for many, many, many years. We were asked to do our part in conserving water for a

long time. We were reminded to do so everyday in school, by seeing advertisements, signs, commercials, etc.  Water bankruptcy occurs when the demand for water exceeds the supply (Sadegh, 2023). Those who would benefit would be alternative water sources

providers. Those who would lose as a result would be agricultural sectors and citizens of the community of which has water bankruptcies.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Related Documents

module 4 st.docx

Topic 3 DQ 2.docx

MAT 240 Project One.docx

MAT 240 Module Five Assignment.docx

Topic 3 DQ 2.docx

Topic 3 DQ 1.docx

SOLUTIONS-1697610823048.docx

Topic 3 DQ 1.docx

Recommended textbooks for you

Economics (MindTap Course List)

Economics

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Cengage Learning

Microeconomics

Economics

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Cengage Learning

Microeconomics A Contemporary Intro

Economics

ISBN:9781285635101

Author:MCEACHERN

Publisher:Cengage

Principles of Microeconomics

Economics

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:Cengage Learning

Micro Economics For Today

Economics

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Cengage,

Economics For Today

Economics

ISBN:9781337613040

Author:Tucker

Publisher:Cengage Learning

SEE MORE TEXTBOOKS

Recommended textbooks for you

Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning
Microeconomics
Economics
ISBN:9781337617406
Author:Roger A. Arnold
Publisher:Cengage Learning
Microeconomics A Contemporary Intro
Economics
ISBN:9781285635101
Author:MCEACHERN
Publisher:Cengage
Principles of Microeconomics
Economics
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Micro Economics For Today
Economics
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Cengage,
Economics For Today
Economics
ISBN:9781337613040
Author:Tucker
Publisher:Cengage Learning