Consider two ways of protecting elephants from poachers in African countries. In one approach, the government sets up enormous national parks that have sufficient habitat for elephants to thrive and forbids all local people to enter the parks or to injure either the elephants or their habitat in any way. In a second approach, the government sets up national parks and designates 10 villages around the edges of the park as official tourist centers that become places where tourists can stay and bases for guided tours inside the national park. Consider the different incentives of local villagers-who often are very poor-in each of these plans. Which plan seems more likely to help the elephant population?
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- Typically this kind of economic activity results in environmental harm through production and consumption externalities. When a country such as Econ Land manages to break the link between economic activity and environmental harm, it is known as ["decoupling", "uncoupling"] . Whether Econ Land has truly broken this link or not depends on the amount of ["export pollution", "import pollution"] they are responsible for, pollution in other countries resulting from the production of products consumed in the country of Econ Land.arrow_forwardclean water is a public benefit since it is impossible to exclude anyone from drinking it, and drinking water by one person does not affect the amount of water available for others to consume. In this situation, market failure occurs because the private market cannot deliver clean water efficiently. This is because private enterprises would be unable to charge for clean water. After all, everyone could drink it even if they did not pay for it. As a result, private enterprises would have little need to invest in supplying safe drinking water. By monopolizing the clean water market, the government can efficiently provide it. The government can charge for clean water as a monopolist, utilizing the revenue to offset costs. Suggest a relevant government policy that would yield efficient outcome. if the government implements a clean water subsidary program as a government policy. carefully explain using 30 words max for each heading, how the imposition of the chosen government policy impacts…arrow_forwardclean water is a public benefit since it is impossible to exclude anyone from drinking it, and drinking water by one person does not affect the amount of water available for others to consume. In this situation, market failure occurs because the private market cannot deliver clean water efficiently. This is because private enterprises would be unable to charge for clean water. After all, everyone could drink it even if they did not pay for it. As a result, private enterprises would have little need to invest in supplying safe drinking water. By monopolizing the clean water market, the government can efficiently provide it. The government can charge for clean water as a monopolist, utilizing the revenue to offset costs. Suggest a relevant government policy that would yield efficient outcome. using 30 words carefully explain the process through which the implementation of the government policy will yield to optimal outcome.arrow_forward
- The protection of national industries is a multifaceted issue. For example, in response to the economic challenges posed by the Covid-19 pandemic, the Canadian government took partial ownership in Air Canada to assist its survival. Nonetheless, numerous academic studies suggest that: Multiple Choice О beggar-thy-neighbour policies can be good for a country. the benefits of trade barriers exceed their costs, creating an efficiency gain for society. it is impossible to estimate the benefits of trade barriers. costs of trade barriers exceed their benefits, creating an efficiency loss for society. О costs and benefits of trade barriers are about equal.arrow_forwardSpring is here, and Larry and his uncle would like to go fishing for the weekend in Washington. Larry could either go to the river in town where anyone can fish without a permit, or he could drive up to a pond located on his family's property in the countryside to fish. Assume that, no matter where people fish, all of the fish that are caught would be kept (that is, there is no "catch and release" policy). The fish in the private pond are considered and whereas the fish in the river are and . In other words, the fish in the private pond are an example of , and the fish in the river are an example of . Fishing in the river will likely lead to because of which of the following reasons? All fishermen will choose to fish in the pond believing that there are more fish there. All fishermen will choose to fish in the river because of the limited access to the pond. Nobody will enjoy fishing because of the lack of private contributions…arrow_forwardThe Corona pandemic has effected several fields of cooperation between States. To what extent the Corona pandemic can be used to suspend commercial agreements between States.arrow_forward
- It is all about the The Black Rhino. The black rhino is one of the most endangered species on the planet. In southern Africa in 1970 there were 65,000 Black Rhinos. Now there are only 2,500. Basic economics tells us why they are in trouble and what we can try to do about it. Why do people kill the black rhino? Because they can make a lot of money relative to the risk of getting caught - just like drug trafficking and lying on your taxes. In Asian communities the horn is viewed as an aphrodisiac and a powerful pain reliever. In Yemen sabers are made from them. As a result one horn can fetch $30K on the black market. The average yearly income in southern Africa is $1,000 and falling. The black rhino is worth more dead than alive. This is a market that does not correct itself. Another piece of this, that is common to many environmental challenges, is that most black rhinos are communal property, not private property. Imagine if all the black rhinos were in the hands of one rancher – would…arrow_forwardIt is all about the The Black Rhino. The black rhino is one of the most endangered species on the planet. In southern Africa in 1970 there were 65,000 Black Rhinos. Now there are only 2,500. Basic economics tells us why they are in trouble and what we can try to do about it. Why do people kill the black rhino? Because they can make a lot of money relative to the risk of getting caught - just like drug trafficking and lying on your taxes. In Asian communities the horn is viewed as an aphrodisiac and a powerful pain reliever. In Yemen sabers are made from them. As a result one horn can fetch $30K on the black market. The average yearly income in southern Africa is $1,000 and falling. The black rhino is worth more dead than alive. This is a market that does not correct itself. Another piece of this, that is common to many environmental challenges, is that most black rhinos are communal property, not private property. Imagine if all the black rhinos were in the hands of one rancher – would…arrow_forwardIt is all about the The Black Rhino. The black rhino is one of the most endangered species on the planet. In southern Africa in 1970 there were 65,000 Black Rhinos. Now there are only 2,500. Basic economics tells us why they are in trouble and what we can try to do about it. Why do people kill the black rhino? Because they can make a lot of money relative to the risk of getting caught - just like drug trafficking and lying on your taxes. In Asian communities the horn is viewed as an aphrodisiac and a powerful pain reliever. In Yemen sabers are made from them. As a result one horn can fetch $30K on the black market. The average yearly income in southern Africa is $1,000 and falling. The black rhino is worth more dead than alive. This is a market that does not correct itself. Another piece of this, that is common to many environmental challenges, is that most black rhinos are communal property, not private property. Imagine if all the black rhinos were in the hands of one rancher – would…arrow_forward
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