Water Economics

click here to view the Water Proposal for Bolivia

Standard Met:
12.1.1 Examine causal relationship between scarcity and need for choices
12.1.4 Evaluate the role of private property as an incentive in conserving and improving scarce resources, including renewable and non-renewable natural resources

Objective:
To understand the concept of scarcity
To look closely at the differences between Public and private ownership
To propose a solution for the Bolivian water crisis

Steps taken:
Read articles, watched video about Bolivia and Bechtel
Applied earlier concept of Cost Benefit Analysis
Used economic tools (subsidy, taxes, regulations, price rationing, incentives, etc.)

Writing Prompt:
“Propose a solution to Bolivia’s water crisis. Do you propose public, private, or a combination of a two?

Conclusion:
In this project we dealt with the real problem that many countries around the world are facing. When we looked at the economic tools a Government can use for its benefit, we noticed that those surround us every day in our lives. This project also opened my eyes and made me conserve water.