The Efficient Pollution Control Regulatory System - Essay Example

Comments (0) Cite this document
Summary
A negative externality is an additional cost to the society due production activities of the firm, since many individual belief that stormwater is clean for human consumption, therefore, if an individual consume this water which combined with water that has been used to clean machines and equipment then there are likely to get sick…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.6% of users find it useful
The Efficient Pollution Control Regulatory System
Read TextPreview

Extract of sample "The Efficient Pollution Control Regulatory System"

Download file to see previous pages increase in price of bread as delineated in the diagram above by an increase in price of bread from P0 to P1 , this result to a new equilibrium in the market E1. (ii) Complementary goods are that usually consumed together (jointly consumed goods). In the case of Complementary goods when the demand r the price of the other good is decreased. Bread and butter are complementary goods, therefore they exhibit a cross elasticity of demand so when the price for margarine and butter is increased it result to a decrease in demand of bread causing a inward shift of the demand curve thus the quantity of bread demanded falls. PRICE D1 D0 S P2 P1 D0 D1 0 Q1 Q0 QUANTITY BREAD From the above diagram an increase in price of butter and margarine will cause shift the demand curve of bread from D0 D0 to D1 D1. This results in a decline in the amount of bread demand illustrated by a shift by the demand curve. ii) In the case of increase in the price of potatoes, rice and pasta, these could are not related in any way. Therefore, they would not result in influencing an increase in the quantity of bread demand or supplied since these goods are not related in way. This can be illustrated by the diagram below. Price D0 S0 P0 S0 D0 Q0 Quantity From the above diagram, an increase in price of rice, potatoes and pasta does not in way affect the quantity of bread demand or supplied. Q2. A) A graph illustrating shortages causes by price controls. price DB DA S $4 $3 DB S DA 0 QS Q* QA QB Quantity In the above diagram when the price of a kilo of banana is $4 the quantity demanded is Q, that is where the demand is equal to the quantity supplied. When the price is fixed at $3 per kilo of banana the quantity supplied is Qs, while the quantity demanded is QA and QB for both cities A and B respectively....
When individuals fall they have to seek medical attention thus incurring huge medical bills. Therefore, pollution of storm water negative contributes to the society. The company polluting the stormwater on the other hand enjoys returns emanating from their production activities without considering the cost that they pass on to the society when pollute the environment t(Haley, 121)
In addition to this pollution of storm water, depletes the amount of water available for human consumption therefore individuals have to search for other alternative sources of water which are not expensive but water becomes scarce. This represents an additional cost to the society occasioned by the production activities of the firm (Haley, 131)
Therefore in order to minimize the amount of pollution of our environment the government needs to intervene so as to reduce amount emission that the firm releases to river as well as other air. The best method to caution the society from the externalities is by charging the polluting firms a standard fee that would go towards financing the affected individuals in circumstances like subsidizing their medical or treatment of the polluted water.
Introduction of laws that would require firms which pollute the environment to pay. This would be essential, since firms are supposed to be in the frontline of preserving the environment, therefore, they have to pay when pollute the environment. Apart from this, the polluting company should compensate the society for the cost incurred from their production activities. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The Efficient Pollution Control Regulatory System Essay”, n.d.)
Retrieved from https://studentshare.org/business/1397557-short-answer-and-case-study
(The Efficient Pollution Control Regulatory System Essay)
https://studentshare.org/business/1397557-short-answer-and-case-study.
“The Efficient Pollution Control Regulatory System Essay”, n.d. https://studentshare.org/business/1397557-short-answer-and-case-study.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The Efficient Pollution Control Regulatory System

Pollution Monitoring and Control

...?Pollution Monitoring and Control Water Pollutants In order to lead a healthy life, it is important for individuals to consume clean water. The adequate consumption of clean water is considered as one of the basic needs of every person, although there are still a lot who do not have access to this commodity (Biswas, 2007). There are various sources of freshwater across the world, however these resources are in danger of being exploited and mismanaged not only due to human error, but also because of ecological degradation. The primary sources of pollution in freshwater is associated to untreated wastes being discharged irresponsibly, companies dumping industrial effluents,...
25 Pages(6250 words)Essay

Air pollution control

...Topic: Teacher: AIR POLLUTION CONTROL Introduction Air is polluted when amount of certain dangerous gases in the air exceed the limits. Dust and different sort of fumes also pollute the air greatly. Increase in air pollution causes a lot of harm to humans, animals and the natural environment. Ozone acts as shield against the ultra violet rays of the sun and protects all forms of life from direct exposure to such rays. Air pollution is the major cause of depletion of ozone layer in the atmosphere. Major type of air pollution is known as “smog”. Smog is combination of smoke and fog. Smog can be seen with a human eye. It is...
6 Pages(1500 words)Essay

Pollution Control Issues

...of land, water, and air should be controlled. But when it is the question of designing these controls or ascertaining that how much control is sufficient, major disagreements begin to surface. In this regard, Crandall states, “In 1970, popular concern about environmental degradation coalesced into a major political force, resulting in President Richard Nixon’s creation of the federal Environmental Protection Agency (EPA) and the first of the major federal attempts to regulate pollution directly—the Clean Air Act Amendments of 1970.” With the lapse of time, the federal government took several regulatory majors through the EPA. Non government...
3 Pages(750 words)Essay

Energy Efficient Food System

...Task Energy efficient food system Fossil resources have been the main form of energy production for the food system for many years, indirectly through utilizing of machinery, pesticides and fertilizers and directly through energy use in crop management both with an aim of increasing food production. Apparently, the increase in food demand in the recent years has seen the food-energy relationship enter a new era which could prove fossil resources as an insufficient mode of energy production in the food system. A food system here refers to all the work, research and processes involved in making sure that a population is well fed incorporating a balanced...
3 Pages(750 words)Essay

Pollution Control Measures

...? Pollution Control Measures Introduction Following the Kyoto Protocol that called for the nations to reduce the amount of environmental pollution, a number of control measures are applied. The three major control measures that are adopted by nations include tradable emission permits, taxes and legal regulatory measures (Tucker, 2011). Each of the control measures has an impact on the economic condition of the country due to its effect on production and employment. Thus, the choice of a pollution control measure that should b adopted by a country depends on the economic impact it has on society. Consequently, this paper explores the merits of the three pollution control measures to establish the optimal pollution control measure... on...
4 Pages(1000 words)Essay

Efficient International Monetary System

...EFFICIENT INTERNATIONAL MONETARY SYSTEM Introduction This paper will aim to enumerate the main criteria for an efficient and effective international monetary system. Furthermore, the role of the supranational organisations in achieving an efficient international monetary system would also be discussed. The international monetary system can be said to be "the institutional framework within which international payments are made, the movement of capital is accommodated and exchange rates among countries' currencies are determined" (International finance in practice). An ideal international monetary...
6 Pages(1500 words)Essay

Internal Control System

...operations. It helps an organization to accomplish its objectives by evolving a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. The internal audit activity evaluates the adequacy and effectiveness of controls that encompass the organization's governance, operations, and information systems (Arens, Loebbecke, Lemon, & Splettstoesser, 2006). Internal audit reviews include the reliability and integrity of financial and operational information, effectiveness and efficiency of operations, safeguarding of assets, and compliance with laws, regulations, and contracts. These reviews ascertain the...
13 Pages(3250 words)Essay

Pollution Control Policy

..., to maintain or increase good outputs, decrease bad outputs, and improve performance by reducing costs. New pollution control policy, eco-efficiency regulation, aims to encourage a search for and adoption of improvements that allow companies to become more environmentally responsible while at the same time becoming more profitable (WBCSD, 2000, p.4). The goal of eco-efficiency policy is to obtain economic and ecological efficiency through the optimal use of inputs. Thus, eco-efficiency policy differs from traditional environmental regulation because it uses a value chain approach to make a direct connection between environmental...
5 Pages(1250 words)Essay

Climate control system project

...climate we have appreciated since the last ice age which terminated several thousand ages ago. A warming up climate will convey changes that can distress our power, transportation systems, water supplies and agriculture, and even our own wellbeing and safety. Societal and Global Issues Extreme temperatures are fatal to human and also disturb the average body function. Therefore, the use of climate control systems is in many platforms, for instance, vehicles, houses, ship and many others. The project is therefore necessary to mitigate energy related problems by influencing the house condition remotely. This is done using several mobile and Personal Computers applications. Conclusion In...
10 Pages(2500 words)Term Paper

Efficient Functioning of a Capitalist System

...Efficient Functioning of a Capitalist System Introduction With the changing economical and financial conditions that are taking place through out the world, corporate players have changes their view toward social responsibilities. The condition is identical in UK as more and more companies are paying emphasis toward Corporate Social Responsibility (CSR) to attain success. Companies have realised the fact that their past strategy of short term benefit to the shareholders will no more be expectable and this strategy was one of the major cause of world wide financial slowdown. The companies, who have to come out from the prevailing financial trap, should think about long term benefit for the investors as well the society... in which the...
10 Pages(2500 words)Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic The Efficient Pollution Control Regulatory System for FREE!

Contact Us