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Key Economic Concepts & Prelude to Introduction to Ecosystems

	

(Private) Property Rights

	Right to use
	Right to earn a benefit stream
	Right of alienation (right to sell or transfer
	property rights)
	Right of exclusivity

Criteria of Economic Performance

	Broad Utility criterion
	Sharp Utility criterion
	Broad Productivity criterion
	Sharp Productivity criterion
	Measures of Equity

Optimal provision of a public good

Utility Possibility Frontier

Utility-Possibility Frontier with 4 social indifference curves

Production Possibility Frontier

Production possibility Frontier & Iso-Value Lines

Production Possibility Frontier with Indivisibilities

Equity example: Lorenz Curves

Positive  & Normative Statements & Claims