UNDERGRADUATES        Lab Assignment

 

1.  What is a Resource Regime? Write brief explanatory notes about the following Resource   Regimes noting their main characteristics, advantages and drawbacks.

a)      Open Access Resource Regime

b)      Common Property Regime

c)      Private Property Regime

d)      State Ownership Regime

 

2.  Compare and Contrast the Subsistence Economic Systems with Market-Oriented Economic Systems in terms of a) decision making units/bodies b) production of goods and services, c) Availability of resources d) environmental degradation, resource creation and preservation and   e) welfare of citizens.

 

 

 

 

 

 

 

GRADUATES        Lab Assignment

 

1.  The state’s intervention in the capitalist economic system has been described as “a necessary evil” by some liberal theorists. Write an essay outlining reasons why it might be necessary for the Central Government to intervene in an economy. Why do you think some people object to the state’s intervention in the economy to influence the way we use our environmental resources. Give examples to explain your answer (minimum 2 pages).

 

2. Compare and Contrast the Market oriented Economic Systems with Centrally-Planned Economic Systems in terms of a) decision making units/bodies b) production of goods and services, c) environmental degradation d) resource creation, destruction and preservation and e) welfare of citizens (minimum 2 pages).