List any two of the factors that can help communities manage a commons.

Q: Discuss the role of Natural Resources in external environment?

A: The role of Natural resources in an external environment can be explained as follows:  The natural…

Q: The value of a home depends in part on how attractive other homes and yards in the neighborhood are.…

A: The externalities are the additional costs or benefits received by the third person who is not…

Q: What are positive and negative externalities

A: Externalities are the effects of economic activity on a third party, the costs or benefits of which…

Q: Would environmentalists favor command-and-control policies as a way to reduce pollution?

A: Command and Control Policies: The command and control policies are the set of rules and regulations…

Q: (Positive Externalities) The value of a home depends in part on how attractive other homes and yards…

A: The value of a home depends in part on how attractive other homes and yards in the neighbourhood…

Q: What is the “common pool problem” otherwise known as the “tragedy of the commons,” and how does it…

A: Common-pool resource: The common pool resources are those resources that are commonly used by…

Q: pse that a chicken farm uses a nearby stream to dispose of the wastes released by its chickens.…

A: A non-profit organization is a gathering coordinated for purposes other than creating profit and in…

Q: Explain methods of managing possible solutions for the tragedy of the commons

A: The tragedy of the commons is a state of affairs in which everyone has an incentive to use a…

Q: Discuss the economic externalities that can result from deforestation

A: Externalities occur when producing or consuming goods can cause an impact on third parties not…

Q: How can turning a common resource into private property solve the tragedy ofthe commons?

A: Common goods are one of the classifications of goods, which are non-excludable, but rival in…

Q: Is there a 'zero-externality' solution when it comes to poor air quality from pig farming, being the…

A: A negative externality takes place when the process of producing commodity results in harmful,…

Q: Discuss negative externality its causes and possible solutions

A: Negative Externalities refers to the cost of consuming a good borne by the third party who is not…

Q: Explain what is meant by ‘The Tragedy of the Commons’. What are its implications and what policies…

A: Tragedy of commons is a problem associated with common goods. These goods are non-excludable but are…

Q: Use the concept of externalities to explain how we might answer the question of what owners may do…

A: An externality is a cost or benefit caused by a producer that is not incurred or received by the…

Q: A cement factory is located near a river which is also used for training sessions by a team of…

A: In welfare economics, externalities are the costs and benefits that are derived from an economic…

Q: (Positive Externalities) The value of a home depends in part on how attractive other homes and yards…

A: Positive externality refers to the situation where the third party who does not involve in the…

Q: Give an example of a negative externality that you have witnessed or are personally aware of. Who is…

A: One day, one of my neighbors was smoking in a public park with kids around. His smoking was…

Q: Discuss the externalities that can result from deforestation

A: Introduction Deforestation is the clearing, annihilating, or in any case evacuation of trees through…

Q: Too much of a good or service is produced when there is a O Public good Negative externality…

A: In the absence of market failures, the competitive market allocates resources efficiently and…

Q: How do social costs and benefits differ from private costs and benefits?

A: Private costs for the manufacturer of a good/service shows the costs that the firm pays to buy…

Q: Define public good?

A: In the field of economics, the goods are divided into categories on the basis of whether they are…

Q: What actions does economic theory suggest to help alleviate the tragedy of the commons? What are…

A: The tragedy of the commons is an economic situation in which everyone has an incentive to consume a…

Q: Suppose you want to put a dollar value on the external costs of carbon emissions from a power plant.…

A: Negative externality example is pollution. Marginal social cost = marginal private cost + pollution…

Q: How do we describe the costs of reducing environmental pollution?

A: Environmental pollution can be understood when there is an adverse effect on the…

Q: How does government encourage positive externalities in the economy?

A: The situation in which either consumption or production of the goods/ services directly benefits the…

Q: Why are common property resources subject to market failures due to non excludability? Please…

A: The market failure occurs where the market forces do not deliver an efficient result.

Q: How Governments Address the Existence of Negative Externalities in Environmental Economic Markets?

A: Considering the negative externality in the environmental economics, it refers to the uncompensated…

Q: Differentiate between a public good and common resources.

A: In a market, one of the participants is a seller serves different types of products and resources…

Q: What is an externality? What are the possible remedies (private or government) to externalities?

A: An externality is a cost or benefit of an economic action that is experienced by a distinct third…

Q: Price S (full social cost) Externality Cost Sp (private cost) E G D Q, Q2 Q, Quantity

A: The equilibrium point is the one where the marginal benefit is equal to the marginal cost.

Q: Governments pursue various policies to remedy the inefficiencies caused by externalities.  List and…

A: The administration can react to externalities in different ways. They can use command-and-control…

Q: What is the “tragedy of the commons”? What are two ways to avoid it?

A: The markets refer to the place where the buyers, and sellers interact. In the markets, the buyers…