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- #8. A party ends up spreading the coronavirus. Is that an externality? a. Yes, it is a negative externality b. Yes, it is a positive externality c. No, it is not an externalityMr.Peter sells ice cream outside the HCMC Post Office. Describe 3 external forces that may impact upon his business, and explain if there is anything Mr. Peter can do to manage them?In environmental economics: Suppose that society wants to reduce the quantity of discharged residuals into the natural environment, what are 3 ways to do so? What are some obstacles that could be associated with each one?
- What are Apple external opportunities?Identify the following situations as an example of a negative or a positive externality: a. You are a birder (bird watcher), and your neighbor has put up several birdhouses in the yard as well as planting trees and flowers that attract birds. b. Your neighbor paints his house a hideous color. c. Investments in private education raise your country’s standard of living. d. Trash dumped upstream flows downstream right past your home. e. Your roommate is a smoker, but you are a nonsmoker.What are the causes and consequences of externalities in economic activities? How can governments intervene to address negative externalities and promote positive externalities?
- 1. What is market failure? Explain in your own words. 2. Why do markets fail. List two reasons and explain them in your own words. 3. Explain what an external effect (also known as an externality) is in your own words. 4. List four examples of externalities 5. Explain what a social dilemma is and list one example of a current social dilemma.Graphically, the effects of an external benefit can be shown as A. a leftward shift of the market demand curve. B. a leftward shift of the market supply curve. C. a downward movement along the market demand curve. D. a rightward shift of the market demand curve.a. Which of the following situations exhibits a positive externality? __ Alan purchases a new watch as a gift for his father. __ Sean spends the afternoon cleaning his garage. __ Richard renovates a dilapidated historic home in the center of town. b. when there is a positive externality associated with the market __ too little is produced. __ too much is produced. __ the socially optimal amount is produced. c. Governments may stimulate the economy to move toward the socially optimal output by __ taxing the product __ subsidizing the product. __ implementing a price ceiling.
- 38. Negative externalities are also called a. positive externalities. b. external benefits. c. external costs. d. all of the above. e.. none of the above. 39 Which of the following is a way governments have tried to deal with negative externalities? a. Governments can impose pollution taxes or green taxes. b. Governments can require specific pollution reduction technologies be used. c. Governments can use a cap and trade system with marketable emissions rights. d. all of the above. e. none of the above.Why are externalities considered a sign of market failure?What do you think are the top 2 most significant externalities cost that we face today and what can be done to mitigate their effects?