Hot debate and arguments galore whirl around this question: "Which economic approach is the most efficient and fair to resolve utility issues surrounding the use of common or public property?" This lesson will explore, examine and analyze this perplexing question by engaging in an open-ended role play simulation.

Concepts

externalities, monopolies, property rights, public goods

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Additional Tags

common property, public property, benefit, costs, council for economic education, transaction costs, https://www.econedlink.org/teacher-lesson/582/

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Classroom Considerations

• Knovation Readability Score: 4 (1 low difficulty, 5 high difficulty)
• The intended use for this resource is Instructional