What is a Common Property Resource?
By BYJU'S Exam Prep
Updated on: November 9th, 2023
Common Property Resources are natural resources that belong to a community and are accessible to all members with certain restrictions, but no one has ownership rights. In addition to other minor forest products like fruits, nuts, fiber, medicinal plants, etc., CPRs offer animal feed and domestic fuel. Such land is essential for the livelihood of marginal farmers, landless people, and other weaker groups in rural areas.
An example of common property resources (CPRs) includes community woods, pasture grounds, village water bodies, and other open areas where a group larger than a household exercises rights of use and is responsible for management.
Table of content
Common Property Resources
Some publicly owned resources can have significant damage, but not all. Many depend on livestock for income because they have little access to other types of land. CPRs are also crucial for women because they collect most fuel and fodder in rural regions.
- Common property resources are (renewable) natural resources whose use is de facto restricted to a specific group of agents, such as village residents or community members, and whose excessive extraction reduces future resource availability.
- According to traditional economic theory, the shared use of a renewable natural resource leads to its overexploitation.
- The various confusing dynamics in the real world make it challenging to pinpoint why community resource management is effective in some situations but not others.
- Therefore, economists utilize economic experiments to assess the efficacy of different institutions, such as penalties, rewards, and communication, in sustaining cooperation in resource usage.
Examples of Common Property Resources
CPRs are natural resources belonging to a particular community. They are accessible to all members of the community with certain restrictions, but no one has ownership rights. Hence, they are intended to be used by a large group of people with some specified obligations.
- CPRs provide domestic fuel and other minor forest products like fruits, nuts, fiber, medicinal plants, etc.
- Because they have limited access to various types of land and rely on livestock for income, marginal farmers, landless people, and other vulnerable groups in rural areas need this land to survive.
- For instance, consider locally owned forests, fisheries along the coast, or irrigation water reserves.
- According to conventional economic theory, the overexploitation of a renewable natural resource derives from its shared usage.
- Some publicly held resources are substantially damaged in the real world, but not all of them.
Summary:
What are Common Property Resources?
Natural resources, known as Common Property Resources, are communally owned and subject to access limits, and ownership rights are not granted to any individual. Other insignificant forest products include fruits, nuts, fiber, medicinal herbs, etc.
Common property resources include, for instance, village water, pasture lands, community woods, and other open spaces that a group bigger than a family unit can use and govern. These resources are essential for marginal farmers and women living in rural areas for their survival.
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