Importance Of Welfare Economics

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Infrastructure development involves fundamental structures that are required for the functioning of a community and society. This is usually referred to structures like roads, water supply, sewers, electrical grids, telecommunications, and so on. This assignment is aimed to discuss the fundamental of welfare economics in general and to investigate the significance of welfare economics to the real estate market. Welfare economics are focusing on the optimal allocation of resources and goods and how it affects individual in society. Welfare economics related to public goods which implies anything from a group of individuals to a locality or region, country or group of countries. For example, infrastructure projects such as roads, rails and bridges. These public infrastructure projects will influence and affects a large number of people. Major infrastructure development usually related with real estate market.

Slums and squatter settlements lack the most basic infrastructure and services. Their population are marginalized and largely disenfranchised. They are mostly exposed to disease, crime and vulnerable to natural disaster. Slum referred to the products of failed policies, corruption, dysfunctional land markets, bad governance, inappropriate regulation, fundamental lack of political will, and unresponsive financial systems. There are approximately about nine countries that suffer from slum problems. Each of every countries has taken solution steps to move away from this

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