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…
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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.
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Pollution Monitoring and Control
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).
Thus it is necessary to develop principles of legal liability directed on environmental issues solving. Actors of environmental pollution would be concerned about their actions in the natural environment. In case environmental pollution occurs there would be a chance to compensate harmful environmental causes.
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”.
The first is the iron triangle and the second is the issue network(s). According to Tietenberg, there is a need to reform the pollution policy. Tietenberg had realized this as early as 1985 (1). However, until we examine the political scientific mechanisms in this sphere, it is difficult to understand the process as a whole even as we enter the second decade of 21st century.
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 diet.
Pollution Control Measures
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.
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).
Details on the website show that the Welsh Assembly Government works to protect the environment by various strategies, policies and regulations that will prevent and control the pollution. The document on air quality standards tells about the extent to which the policies are made regulated so that there is no or minimum pollution caused by non natural entities.
Originally it was introduced on the basis of division of labor in the society and was calculated to promote its economic strength and efficiency. The division was to begin with, complexity flexible and it was possible for a member of one caste to change to the other.
By 1970, the public insisted that the federal government deal with the unhealthy air problem that had grown beyond the capacity of the states to resolve. Congress authorized the newly formed United States Environmental Protection Agency (EPA) to administer the Clean Air Act as a national air program to protect the health of all citizens.
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