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Answer the following questions:
1. If you were to write an environmental impact statement for a typical refrigerator, what would be included?
2. Do products labels that claim qualities such as recycled or biodegradable affect your purchase decisions? why or why not?
3.The UE mandates take back programs for automobiles. Why do you think take back programs are not require in the US? What kinds of changes might be needed in order to make such programs requirements more attractive to business people or politicians?
4. How can consumers determine whether claims on product labels are accurate?
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- What should the firm do if customers want to purchase a product that is not only bad for them (tobacco, alcohol, or fast food) but is also bad for the society (higher health-care costs)? What will be the impact on the stakeholders?It is not necessarily true that all new products benefit consumers or society. What are some new products that have made our lives better? What are some new products that have actually been harmful to consumers or to society? (Name two product for each category, and explain why you selected these products.) Should there be a way to monitor or “police” new products that are introduced to the marketplace?Suppose your city is debating a change in policy from illegal use to legalizing recreational use of marijuana and cannabis products. Your local officials ask you to identify the appropriate aspects required to perform a cost- benefit analysis of this policy change. Using the principles of cost-benefit analysis, your local officials need help in identifying and understanding the benefits to consumers, the benefits to producers, total costs to consumers, total costs to producers, total costs from possible externalities, opportunity costs, incommensurable effects and intangible effects. For simplicity, dynamic time effects, which involve discount rates, are ignored. Following the principles of cost-benefit analysis, are the possible positive health effects (a positive externality) accounted for in cost-benefit analyses? O No. The health effects do not factor into cost-benefit analysis. O Yes. The health effects should be estimated but are a transfer and thus ultimately do not count…
- List 3 steps you can take to be a more conscious consumer and citizen of the planet, and how each of these steps can help mitigate climate change/pollution.In terms of the behavioral effect on consumers, how would a computer, such as an Apple iMac, be classified? In light of this classification, what actions would you suggest to the manufacturers of these products to increase their sales in the market?Exclusion of environmental costs of resources used and environmental damage incurred, from the market prices of goods and services is one of the four basic causes of Environmental problems. Explain this statement with specific examples taken from two different business activities?
- Genetically modifying seeds to produce herbicide-resistant plants that increase crop yields has revolutionized modern agriculture. However, genetically modified organisms (GMOs) have come under fire in recent years, with consumer groups calling for mandatory GMO labeling on all food packages that contain GMO ingredients. GMO labeling laws have been in force in the European Union and other countries for several years, but the threat to the U.S. food industry is only now surfacing. Although bills requiring GMO labeling have been introduced in many state legislatures, Vermont is the only state where such a law has so far withstood the first round of legal battles from the industry. Leading chemical companies, including Monsanto, BASF, and DuPont, are the world’s largest suppliers of seeds that grow the food that feeds the world. To counter the GMO labeling threat, they now are turning to mutagenesis as an alternative technique to create herbicide-resistant crops. Mutagenesis mimics the…Do you think the requirements for antitrust injury and standing have beneficial or negative effects on consumer welfare? That is, do they limit meritorious antitrust claims? State your reasons.CS Economics The Nixon administration was interested in pursuing passive restraint safety systems. But there was pushback from politicians because? This meant people had less choice about using them (a challenge to their freedom) This meant that the price of vehicles would put buying a car out of reach for most people This would reduce traffic fatalities but would increase the number of injuries This meant less work for lawyers who were earning money from traffic accident cases
- What is Efficient Consumer Response? What are the barriers of implementing the ECR?Make a "company objective" for a failing business in luxury manufacturing car?Do you think that manufacturers of computers, television sets, cell phones, and other electronic productsshould be required to take their products back at theend of their useful lives for repair, remanufacture, orrecycling in a manner that is environmentally responsible and that does not threaten the health of recyclingworkers? Explain. Would you be willing to pay morefor these products to cover the costs of such a takeback program? If so, what percentage more per purchase would you be willing to pay for these products?