In: Economics
One major concern about the future is that water scarcity will grow, particularly in arid regions where precipitation levels may be reduced by climate change. Will our institutions provide for an efficient response to this problem? To think about this issue, let’s consider groundwater extraction over time using the two-period model as our lens.
Question 2 Suppose the groundwater is obtained from your private well that is drilled into an aquifer that is shared with many other users who have also drilled private wells. Would you expect that the water from this common aquifer be extracted at an efficient rate? Why or why not?
The strategies that can be used to avoid water scarcity problems in arid regions are :
• ground water recharge methods.
• reusing the liquid waste or sewage discharged into water bodies.
• recharging using artificial aquifer : The rain water or water from other water bodies sweep down to thr soil and is stored as ground water. By the process of infiltration, this water passes through the ground soil and accumulates at a layer consisting of impermeable rocks. These places that have impermeable rocks are known as aquifers. This water in the aquifers can be taken out using pumps or other methods. These type of aquifers can be built artificially in the arid regions inorder to save water.
When the ground water is obtained from oir private well that is drilled into an aquifer that is shared with many others who have also drilled private wells, then the water from this common aquifer will not be extracted at an efficient rate. In this condition, all the individual users are taking water from a common aquifer. Then each of them will have a sense of mind to extract more water from it. Thus all the users extracts more water from it and this over extraction results in the shortage of water in the aquifer.
Thanks!..