September 30, 2020

Economic Law Questions

3 min read

Economic Law Questions
From an economic perspective, the state should encourage Yvonne to install a loud burglar alarm to increase security for her home and its neighbors. The economic law theory expects that an economy will run efficiently through obeying existing laws and regulations (Hausman, McPherson, & Satz, 2016). Yvonne has the right to place measures to prevent against burglars while helping the state in dealing with the security problem. The first option of installing bars on her windows might be effective in improving security for her home against burglars. It is because the burglars will be not able to break through the bars installed on the windows. However, the option does not provide a wider economic advantage and benefit to the neighborhood. It will potentially redirect the burglars to other houses and thus, the crime levels in the neighborhood will not reduce.
In addition, the third option of buying a gun is not economic efficient Having a gun in the house will not deter the burglars from coming to the house. The gun would only be effective when the burglars attacks the home and it might not help her. The gun would not also help in reducing the crime levels in the neighborhood as a single cannot help to deter burglars attacking the entire neighborhood. The two options of installing bars on windows and purchasing a gun are economically limiting the potential efforts to reducing crime in the entire neighborhood.
The installation of a loud burglar alarm is an economically viable option to improve security of Yvonne’s home and the neighborhood. It is because it will help in alerting the neighbors who might help in capturing the burglars. The alarm work well as a deterrence for potentially burglars who might attack her house and its neighbors. The state should create awareness on the economic benefits of installing alarms to improve security.

Reference
Hausman, D., McPherson, M., & Satz, D. (2016). Economic analysis, moral philosophy, and public policy. Cambridge, UK: Cambridge University Press.

Economic Law Questions
Introduction
The economic law theory expects that an economy will run efficiently through obeying existing laws and regulations (Hausman, McPherson, & Satz, 2016). The economic assessment of the three options proposed by Yvonne will help in understanding option with the best economic advantage for the society as it improves security. Therefore, the economic legal argument evaluates security measures that will result to substantial gains in the economy.
From an economic perspective, the state should encourage Yvonne to install a loud burglar alarm to increase security for her home and its neighbors. Yvonne has the right to place measures to prevent against burglars while helping the state in dealing with the security problem. The first option of installing bars on her windows might be effective in improving security for her home against burglars. It is because the burglars will be not able to break through the bars installed on the windows. However, the option does not provide a wider economic advantage and benefit to the neighborhood. It will potentially redirect the burglars to other houses and thus, the crime levels in the neighborhood will not reduce.
In addition, the third option of buying a gun is not economic efficient Having a gun in the house will not deter the burglars from coming to the house. The gun would only be effective when the burglars attacks the home and it might not help her. The gun would not also help in reducing the crime levels in the neighborhood as a single cannot help to deter burglars attacking the entire neighborhood. The two options of installing bars on windows and purchasing a gun are economically limiting the potential efforts to reducing crime in the entire neighborhood.
Conclusion
In conclusion, improving security through the installation of a loud burglar alarm is an economically viable option to improve security of Yvonne’s home and the neighborhood. It is because it will help in alerting the neighbors who might help in capturing the burglars. The alarm work well as a deterrence for potentially burglars who might attack her house and its neighbors. The state should create awareness on the economic benefits of installing alarms to improve security.

Reference
Hausman, D., McPherson, M., & Satz, D. (2016). Economic analysis, moral philosophy, and public policy. Cambridge, UK: Cambridge University Press.

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