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Environmental quality is considered to be a public good. This means that:

A. ultimately it is the public that pays for environmental clean-up.

B. businesses have a responsibility to minimize their environmental pollution.

C.everyone enjoys a cleaner environment regardless of who pays for it.

D. society places a higher value on private goods and services.

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Yusra Anees
Yusra AneesLv10
18 Mar 2021

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Related questions

In an article in the agriculture magazine Choices, Oregon State University economist JunJie Wu made the following observation about the conversion of farmland to urban development: 
 
Land use provides many economic and social benefits but often comes at a substantial cost to the environment. Although most economic costs are figured into land-use decisions, most environmental externalities are not. These environmental 'externalities" cause a divergence between private and social costs for some land uses, leading to an inefficient land allocation. For example, developers may not bear all the environmental and infrastructural costs generated by their projects. Such market failures provide a justification for private conservation efforts and public land use planning and regulation. 
 
Source: JunJie Wu, "Land Use Changes: Economic, Social, and Environmental Impacts," Choices, Vol. 23, No. 4, Fourth Quarter 2008, pp. 6-10. 
 
By market failure, the author means:
 
(i) benefiting from a good without paying for it. 
(ii) a situation that occurs when one person's consumption of a unit of a good means no one else can consume it. 
(iii) a situation in which the market fails to produce an efficient level of output. 
(iv) a situation in which a benefit is present that affects someone who is not directly involved in the consumption of a good or service. 
(v) the tendency for a common resource to be underused.

1  John raises bees to pollinate his orchard, a couple of bees which escaped ended up pollinating his neighbour's orchard so:

a. john's neighbour has received an external cost of john's beekeeping.

b. john's neighbour has received an external benefit of john's beekeeping.

c.john's neighbour has received an internal cost of john's beekeeping.

d.none of the above.

2. external costs are:

a. borne by individuals other than those who incurred them.

b.borned by the public but incurred by the government.

c.another term for implicit costs.

d.borne by the government but incurred by the public.

3. the optimal quantity of ail pollution is:

a. found by setting the quantity of air pollution equal to the quantity of water pollution.

b.a meaningless concept since monetary values cannot be attached to problems associated with pollution.

c.whatever amount of pollution is produced by the profit-maximizing firm.

d. found by equating the marginal benefits from further reductions in pollution and the marginal costs of further reductions in pollution.

4. technological changes that make it easier to produce in a "cleaner" fashion would cause:

a. the marginal cost curve of pollution abatement to shift left increasing the degree of air quality.

b.the marginal benefit curve of pollution abatement to shift left increasing the degree of air quality.

c.the marginal cost curve of pollution abatement to shift right increasing the degree of air quality.

d.the marginal benefit curve of pollution to shit right increasing the degree of air quality.

5. if pollution is bad, why do we still use pollution-causing resources such as coal and oil to generate electricity?

a. the transaction cost of pollution is too low.

b.governements lack the political will to enforce the use of pollution-free resources.

c.pollution is only a private cost.

d.the cost of using pollution-free resources to generate power in many circumstances is much higher than generating the same power through conventional pollution causing means.

Question 1:

The annual income that can be consumed without diminishing the total capital assets of a nation is

purchasing power parity income.
sustainable national income.
environmental capital stock.
per capita income.

Question 2:

Maintaining the rainforest is very important because

of its absorptive capacity for CO2 emissions.
of maintaining agricultural production of countries dependent on the rainforest such as Brazil.
ensuring a successful land reform policy.
encouraging rainforest settlement of the poor

Question 3:

Which of the following leads to an underallocation of resources to a specific economic activity?

External benefits
Marginal costs
External costs
Marginal benefits

Question 4:

The free-rider problem plagues public goods because

once public goods are produced it is not possible to exclude anyone from consuming these goods.
the public doesn't care about public goods.
public goods are not produced by profit-maximizing firms and hence can be produced only at a loss to society.
policymakers ignore opportunity costs in making decisions

Question 5:

Which of the following methods could be used to correct for external costs?

Require firms in the industry to install pollution control devices.
Impose a tax or an effluent fee on the offenders.
Have the offender clean up the pollution it caused.
All of the above would be appropriate.

Question 6:

To correct for a negative externality, a government might impose a uniform tax related only to the physical quantity of pollution if

the economic damages are zero.
the administrative costs are high.
the cost of ascertaining the actual economic costs are relatively small.
the economic damages associated with the pollution are different across different locations.

Question 7:

In order to internalize the externality due to pollution, the government should impose a tax based on

the size of the firm causing the pollution.
the physical amount of pollution.
the value of the pollution-causing business activity.
the economic damage associated with the pollution.

Question 8:

In a market for emission permits, firms that emit over their allowed limits

pay a price of these emissions.
are forced to shut down.
are taxed by the government for the amount of emissions.
receive a subsidy for the amount of emissions.

Question 9:

The 1997 Kyoto Protocol was signed by

more than three dozen nations.
all nations in the world.
only the United States and the European Union.
only nations in Asia.

Question 10:

The problem of overfishing in waters that are commonly owned can be solved by

subsidizing fishing.
establishing property rights for fishing in the waters.
the use of the Coase Theorem.
allowing the market to ration fish.

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