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ADM 614 Week 1 Assignment and Discussion
ADM 614 Week 1 Assignment and Discussion
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ADM 614 Week 1 Assignment and Discussion
ADM 614 Topic 1 Discussion 1
The economic way of thinking requires administrators to incorporate eight principles. One of the principles relates to “tradeoffs” and another principle relates to “opportunity costs” for scarce resources. Describe how public administrators must make trade-offs by assessing opportunity costs relating to scarce resources.
ADM 614 Topic 1 Discussion 2
Explain how scarcity and poverty are different. Give examples to support your reasoning.
ADM 614 Week 1 Private Ownership and Markets
ADM 614 Week 1 Assignment and Discussion
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Read the case study on page 27 “Protecting Endangered Species with Private Property Rights.” Write an essay 1,000-1,250 words, answering the following questions:
Economists argue that scarcity is different than poverty. To understand why many wild animals are scarce we need to look at scarcity in the context of private property. Explain how scarcity is affected by private property rights in the case study.
Compare and contrast how incentives accompanying private property rights can both help protect and endanger the rhino, an endangered species.
Be sure to cite at least three relevant scholarly sources in support of your content. These sources can include trade journals and think tank reports. Use only sources found at the GCU Library or those provided in Topic Materials.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center.
You are required to submit this assignment to Turnitin. Refer to the directions in the Student Success Center.
