We often take for granted many of the products or services that we access on a daily basis because at first glance they seem inexpensive. Provide an example of such a product that upon further examination has wide-ranging impacts upon environmental health, with the poor bearing the brunt of this impact.© BrainMass Inc. brainmass.com March 21, 2019, 11:08 pm ad1c9bdddf
An externality is any cost associated with the use or production of a good or service. These costs are often not covered by the purchase price. For example, this morning I purchased a bottle of water from a popular doughnut shop. It is interesting to note that I was denied a cup of tap water per the company's policy. At any rate, let us consider the externalities of this bottle of water, that selling for $1.50, is quite inexpensive once one ...
Here I have provided an example of each a product and a service that remain a popular part of our culture due to their relatively inexpensive initial cost. Examining the externalities associated with these, one gains insight into social inequalities associated with their use.