Classify each statement as a positive externality associated with education or a negative externality associated with education. Positive externalties of education Negative externalities of education Answer Bank a higher voter participation rate reduced welfare dependency an increased standard of living lower crime rates

Define the concept of a negative externality and explain the nature of the negative externality in the fishing markets i.e. describe how the self-interested actions of a fishing company might adversely affect third parties without their consent.

Positive externalities a. can be internalized with a corrective tax. b. result in an efficient equilibrium quantity. c. result in smaller than efficient equilibrium quantity. d. result in a larger than efficient equilibrium quantity.

Which of the following is not considered a strength of the environmental economics approach?   a.     companies will be motivated to try and reduce environmental impacts to have more economic gain.   b.     market-based solutions offer incentives for behavioural changes that directly address the issue at hand, fostering tangible change.   c.   policies with significant economic costs often face rejection.   d.   it assigns price/ quantitative value to natural resources, making it easier to weigh the impacts and awareness on how companies/people use it.     e.     it tries to balance the resource that you have, whatever it may be, to use and manage it appropriately and tries not to have any negative impacts on our environment.

Q35 Which of the following phenomena is NOT an example of market failure? a. A positive externality. b. Diminishing marginal returns. c. Moral hazard. d. Asymmetric information. e. Public goods.

In the context of environmental economics, the "tragedy of the commons" refers to: A) The efficient allocation of resources when property rights are well-defined and enforced. B) The overuse and depletion of common - pool resources due to individual incentives to maximize personal gain, leading to suboptimal outcomes for society. C) The creation of externalities that are fully internalized by market participants. D) The optimal provision of public goods through voluntary cooperation among individuals.

Fill in the blanks: There is ____________ in an economy with positive externality. This problem can be dealt with by providing a _______ to the individual(s) creating the positive externality.

Many restaurants have chosen not to serve shark fin soup, while many others continue to serve it. What are the possible reasons behind each of these decisions. Is there a way to balance human wants with economic and environmental impacts? Explain your reasoning.

These two situations have arisen: Agricultural technologies become available that if used reduce adverse effects fromfarming on environmental quality   Water from a uranium mine is leaking into Kakadu NationalPark   For each case you are to identify possible external effects that might occur and explain the conditions that would need to exist, and what the government or the affected parties could do, to change these negative situations for the betterment of one or both parties?