What are some of the economic consequences of global warming? What kind of market failures does this predict? What should the role of government be to correct this market failure? If you were "monarch of the world", what would you do? Who would be hurt by your action? How would you compensate them?
Does the theory of consumer behavior describe how you shop? How (this applies to whether it does or doesn't describe your behavior)? What factors affect your buying decisions? Does indifference curve analysis describe your behavior better or worse? If you found neither theory representative of your behavior, how would you develop a model that would do it better?
This discussion concerns one of the most fundamental features of a market system, but one of the most important obstacles to the development of capitalism in the developing world. The topic is property rights.
In addition, I have provided a link to a companion article by Madeleine Albright from the Economist magazine, "The World in 2007".
What is the impact of ill-defined property rights in the developing world on the evolution of market economies in those countries?
What do you suggest be done in those countries to improve the situation? Balance creativity and realism in your response.
Question #1: Coke and Pepsi are two of the most famous products and companies in the world. Would you describe their market structure as an oligopoly or a monopolistic competition? Why? (Justify your answer).
Question #2: Banking is an industry that affects us all in one way or another. What industry structure best describes the banking industry in America? Why?
Please find the file attached.
Global warming refers to an increment in the average temperature of the earth's atmosphere due to additional heat being ensnared by green house gases along with human activities such as burning fossil fuels, deforestation, etc. it has an effect on both natural environment and human life. Economic consequences of global warming include shifts in regional production centers and adjustments of labor, capital and land allocations. Developed countries are more likely to experience positive effects and developing countries are more likely to experience negative effects. Global warming will have a serious impact on the economic growth without mitigation. It can be mitigating through 1% investment of global GDP otherwise there is a risk of recession worth up to 20 % of global GDP (Stern Review, 2006). It will also slow down economic growth and poverty reduction.
Products that releases CFC such as refrigerators, etc., automobiles, industries which uses fossil fuels as a source of energy, are contributes to global warming. With the increase in environmental awareness, some restrictions imposed on these industries. This will put pressure over the industries either to stop production of such products or to modify them. This will lead to the market failure. The green house gases emission will affect the lives of others. The greatest market failure is the climate change and the non-payment by people for the consequences of their actions (Sir Nicholas). Moreover, problem in capital and property markets reduces investment for energy efficiency. In order to correct this market failure, the government must establish a carbon price through emission regulations and taxes and promote technology. If I ...
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