Economics > Presentation > Public Policy for Natural Resources (All)
Public Policy for Natural ResourcesKey ideas Policy criteria Incentive-based policies Command-and-control Market failure/ government failure Property rights Public produc... tion Subsidies Centralization/decentralization3 Public Policy and Natural Resources Public policy: collective actions that people undertake through governmental institutions. These actions shape the terms under which natural resources are used. Goal of public policy – that actions of economic agents are both individually advantageous and socially efficient. Objectives of chapter 1. Examine the major types of natural resource policies that are available in a market economy to manage natural resource conservation and utilization. 2. Assess the applicability of these policies in different circumstances.4 Objectives of Public Policy Criteria for assessing natural resource policies: 1. Economic efficiency 2. Equity 3. Flexibility 4. Enforceability [Show More]
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