Recent orders
Property Rights & Allocations of Resources
Property Rights & Allocations of Resources
Author’s name
Institutional Affiliation
AbstractIn discussing the significance of property rights in the efficient allocation of resources it is essential to present an overview of what is meant by efficient allocation of resources. Efficient allocation of resources refers to the permutation of outputs, inputs, and distribution of outputs and inputs, in a manner that changes in the economy may make somebody better off only by making somebody else worse off (Demsetz, 2003).
Table of Contents
TOC o “1-3” h z u Abstract PAGEREF _Toc314618801 h 2Introduction PAGEREF _Toc314618802 h 3Significance of Property Rights in the Efficient Allocation of Resources PAGEREF _Toc314618803 h 4Examples from resources markets PAGEREF _Toc314618804 h 4Why Property Rights May Not Be Well-Defined PAGEREF _Toc314618805 h 5How Does the Lack of Property Rights Affect the Demand (MV) and Supply (MC) and the Efficient Allocation of Environmental and Natural Resources PAGEREF _Toc314618806 h 5Conclusion PAGEREF _Toc314618807 h 6References PAGEREF _Toc314618808 h 7
IntroductionEfficiency in regard to property rights is achieved in the event that property rights may be non- attenuated. This means that the property rights are
Transferable.
Completely specified.
Enforceable and enforced.
Exclusive.
Significance of Property Rights in the Efficient Allocation of ResourcesProperty rights essentially enhance resource allocation and investments in a society through limiting expropriation as well as to facilitate market transactions. In reality, economic growth occurs if property rights make it meaningful to embark on socially constructive activities. Consequently, the frailty of property rights is regarded as a crucial impediment to economic development (Yoram, 2008).
Examples from resources marketsIn reality, land is most likely the asset with the most delicately defined property rights amongst excludable and rival assets, particularly in the developing countries. Property rights of assets such as land provide the holder manifold rights. In the complete form, these entail the rights to utilize the land, to exclude other parties from utilizing it, to transfer the land to others, as well as to maintain these rights (Velasquez, 2010). However, in the event of absence of property rights, individuals hold economic rights in regard to land, which includes their ability, to consume directly the services of the land, or to indirectly consume it through exchange.
Why Property Rights May Not Be Well-DefinedIn analyzing natural resource concerns, it is significantly essential to review the form as well as property rights ownership in resources. Governments characteristically exercise immense discretionary powers in this regard. This is because, discretionary powers over access to natural and environmental resources confers power and status to the holder. The factors to consider in this regard include whether the perception is historical, prescriptive, or predictive (Yoram, 2008).
It is essential to distinguish who controls the property rights, the pertinent conditions. Property rights in natural and environmental resources entail control over the resource. The most vital feature of in property right is the capability to prohibit others from utilizing the resource. The right to utilize, but not prohibit others from usage, is an extremely ill-defined or imperfect property right (Daniel, 2009).
How Does the Lack of Property Rights Affect the Demand (MV) and Supply (MC) and the Efficient Allocation of Environmental and Natural ResourcesIf property rights are not properly allocated and defined, it causes consequences that may not have come about if property rights had been properly allocated and defined. These consequences usually have considerable effects on demand and supply, and therefore influence the efficient allocation of resources. Natural resources are predominantly vulnerable to this problem since natural resources were in existence prior to the development of human economies. This creates a scenario whereby, people utilize natural resources prior to the establishment of formal regulations and property rights. Since such a situation is not managed by the policies and laws that usually govern the utilization of resources, the market does not have the capability to allocate the resources efficiently by use of demand and supply mechanisms (Demsetz, 2003).
ConclusionThe development of property rights in natural and environmental resources depend on the significance of the resource as well as its implied productivity. It also depends on the cost of establishment as well as enforcement of more efficient regimes. It is evident that, as a resource, or its output, becomes increasingly valuable; it produces motivation to establish a well-defined property rights regime. On the other hand, even with increasing valuation of a resource, the property rights might not develop towards more efficient regimes if the outlay of instituting a new regime overshadows the benefits.ReferencesDaniel, H. (2009). The S Corporation Financial Adjustment. Handbook of Business Appraisal & Intellectual Property Evaluation. New York, McGraw Hill.
Demsetz, H. (2003). Property Rights Paradigm. Economic History Journal, 23, (1), 7.
Velasquez, M. (2010). Business Ethics Concepts & Cases. Upper Saddle River: Pearson Education.
Yoram, B. (2008). Economic Rights & the Capacity of the State. N. Y: Free Press.
The goal of this document is to outline the test strategies and overall test approach for the Web based Student Registration
Introduction
The aim of the Web-based student registration system is to enable students to register via the internet for classes, verify their credentials, select classes they are eligible to register and print a confirmation receipt and also to prepare registration invoice. In addition it will also allow students to add or drop courses within the stipulated registration period.
The Web-based student registration is therefore an enormous improvement over the ancient paper-based method .The system will still provide the usual services such as adding removing, updating and searching information only that it will be time efficient and substantially lowering costs.
Objectives
The goal of this document is to outline the test strategies and overall test approach for the Web based Student Registration project. The main of system testing is to identify errors that can only be revealed by testing the entire system or some major part of it.
The system testing is usually concerned with the main areas such as performance, security, and usability.
In order to fully realize the objective of the test plan of web based student registration system, below is a detailed high level description of the three tests involved. The main purpose of coming up with the high level description is to facilitate breakup and grouping of the several work activities This will further facilitate easy trailing and documentation of work carried out in the course of this test plan.
The testing process2371725-590550Establish Project
Establish Project
92392530543525050744826100
4476750107315008096249779000`
492760208915Designing System Test
00Designing System Test
center242569Design
00Design
4095751204471Build Test Environment
00Build Test Environment
45434255016588582550165885825259715
260985033020
4333875243205Signoff
00Signoff
2505075243840Execute System Tests
00Execute System Tests
3600450332740
The e above diagram indicates the procedure that will be involved during the test plan
Establish Project This is where System Test Plan, Schedule & Test Approach are created
Designing System Test involves identifying Test Cycles, Test Cases, Entry & Exit Criteria, Projected outcome In general, test conditions/ projected outcome will be identified by the Test Team with the help of Development Team. The Test Team will then ascertain Test Cases and the Information required.
Design/Build Test Procedures Tis involves putting up procedures such as Error Management systems and Status reporting.
Build Test Environment this involves putting up the hardware, software and data set-ups to help establish the weak points of the system.
Execute System Tests – The test results identified in the Design and Build Test Procedures will be executed and all the results will be documented and Bug Report Forms filled out and handed to the teams concerned.
Signoff – This is the final stage and it happens when all the errors are corrected and the intended results achieved
Usability testing
This defines a test plan for conducting a usability test during the development of Web based The goals of usability testing include establishing a baseline of user performance, establishing and endorsing user performance measures to be addressed in order to improve the productivity and end-user satisfaction
The user friendliness of the system is also of great concerns as this part seeks to answer whether a new user can understand and operate the system easily
The web based student registration system simplifies the application, registration, and monitoring of students in a school or training institute. This makes it easy for the institution administrators and the staff to access the student’s registration particulars since there is a central data base and it also aids in filling up of students’ application doing away with the paperwork.
This simple and effective Student registration system is coded using PHP and MYSQL meaning it is compatible with all operating systems. Students can therefore access it anywhere any time where there is web access.
A detailed help document that can be read in case a user is stuck or does not understand something at any point is also provided in case of such occurrence.
The web based system also accommodates huge data and also allows the provision of students to make their registration changes even after they have submitted their registration data. The student details option allows the staff or administration to enter student ID and access the student profile and academic history of the student.
Security testing
This seeks to ensure that the system cannot be hijacked by hackers in whichever way. It also ensures that any unauthorized person whether external or internal cannot gain access to the system. To confirm this, the system can be tested using some of the vulnerabilities which include
Trying to access bookmarked web page without login to the system, ensuring that the previously accessed pages should not accessible after log out, checking correct and incorrect user Id and passwords. Sensitive information such as passwords should be hidden in the text box and encrypted in dots.
Most of the security concerns like virus and spyware are taken care of because they can be eliminated by antivirus firewall on the server and if it’s not eliminated it can still be harmless since this system is renders the document in HTML . Another biggest concern in this system is hackers or unauthorized internal or external access. The registration system has a login and a password access thus making the system so secure since the sign up details are sent to the students email for verification.
The system has also diffent database system making it so secure.Performance TestingThe main aim of conducting performance testing in the Students registration web based system is to find out how the system will perform in different environment.it is important to check things like how many people will be accessing the site at the same time, how many simultaneous users will be accessing the site at a particular time, what time in the day maximum number of users will be opening the site, what is the maximum number of users accessing the website, how many processes will be running concurrently, which browsers the users will be accessing (Percentage of users using Internet explorer/Mozilla Firefox/Safari etc.). The realization the testing depends on recognizing these requirements as clearly as possible.
Performance testing ensures that the system provides acceptable response times (which should not exceed 20 seconds on server side .This test is performed using any browser executed on server machine and provides the same requests such as on remote hosts.
The system has the ability to register huge number of students at the same time. The student will only have register once then this data will appear automatically the next time the student logs in. It also has automatic reminders for example, of an upcoming registration deadline, a notification is automatically sent to the students who have not made their payments at the same time.
Properties of life
Properties of life
Student’s name
Affiliation
Course
Date
For anything to be viewed as a living thing, it should have certain characters that fit in the nine properties/characteristics of life. Adaptations are the first property of life, since they allow an organism to transform and respond to their environment. This enables the organisms to suit to the changing ecosystem, habitat, and to have relationships with other organisms. The second characteristics of life is it must have order. Order is the capability of an organism to maintain homeostasis and to do its roles. At the end of the day it means the organism can control itself naturally so that it does not subject itself to physical degeneration. The third characteristic of life is metabolism. Order and Metabolism go together as the Organisms should create energy in order to survive, grow, move and function. The organisms should use the energy to help it with homeostasis. The fourth property of life is motility. Motility is the capability of an organism to move. For animals it means their ability to walk while for plants their ability to shift to the sun. For seeds to disperse and for parasites remove using hosts (Hillis, 2012).
The fifth property of life is development. Development is connected to the capability of an organism to change ontogenetically and grow. Therefore, organisms in their biological form may act very diverse to their sexually mature form. The sixth property of life is responsiveness. Responsiveness is the perception that each and every organism should be able to respond to a stimulus. Thus showing that the organism has the ability to sense and feel its surroundings. Organisms have a variety of responses to several chemical and physical cues found within their environment. The seventh property of life is evolution. Evolution is the capability of a given species to change over time in order to become more fit and suit better to its environment. This happens through genetic changes that are related to adaptations. The eighth property of life is reproduction. Reproduction is the procedure whereby the organism has offspring that produces progeny with common genetic information. Fitness and Reproduction closely connected.
Finally the ninth the Property of life is hereditary. Hereditary is the capacity of an organism to gain characters from their parents and to be able to give this characters to their offspring. Hereditary is linked with reproduction and evolution closely (Johnsen, 2012).
Despite some of these properties relating with prions, viroid like reproduction and viruses they are not considered alive since they are passive and non-responsive. They should encounter cells and their existence is basically at the cells will. Prions, viroids and Viruses, are not alive but they evolve. They invade on a cell and exploit it as they transform rapidly. Depending on the cells they invade and exploit and this occurs rapidly. Therefore, their ‘evolution’ does not happen due to the changes in themselves, but reasonably their host’s transformed responses.
References
Hillis, D. (2012). Principles of life. Sunderland, MA: Sinauer Associates;
Johnsen, S. (n.d.). The Optics of Life a Biologist’s Guide to Light in Nature.