Within the context of the Malthusian growth model, one assumes that this quantity is fixed and does not depreciate in value when calculating the general equilibrium from the production function.
Within the context of the Malthusian growth model, one assumes that this quantity is fixed and does not depreciate in value when calculating the general equilibrium from the production function. In Progress and Poverty Henry George proposed an ad valorem tax whose value is calculated by measuring one's possession of this thing. The scenario called the Tragedy of the Commons is solved by privatizing this resource. Broadly speaking, this economic resource also includes sunlight, mineral deposits and natural resources like water when considered as a factor of production. This quantity is a primary factor of production along with labor and capital. For 10 points, identify this type of economic property, which may be rented out.
Within the context of the Malthusian growth model, one assumes that this quantity is fixed and does not depreciate in value when calculating the general equilibrium from the production function.
land [prompt on property until mentioned]