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Classification of Externality
Keeping in view the nature of the problem, externality may be classified into four broad types:
The disposal of public bad under normal course is done in various forms through natural resources media like air, water and land by treating earth as a natural sink. In the process of disposal, if the pollution load of public bad exceeds the assimilative capacity of the natural resource, it will impose serious problem by impairing the ecological balance. Hence, the main issue is how to abate pollution to the required level in order to keep both living and non-living organisms in good health and prosperity.
Consider an economy in which George and Harriet consume only ale and bread
summarize the basic tents of the argumentsin this case
Question 1: "The only social responsibility of business is to increase its profits" wrote Milton Friedman, Economics Nobel prize winner, in an article in the New York Times Mag
Q. Relationship between individual preference and social choice? Social Choice is a very kindred area. Some people don't make any distinction between the two while others make.
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Question 1 Legislature, most commonly known by the name parliament, forms the first important organ of a political organization and to hold this position it performs certain func
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