Demonstrate how the issue of pollution contributed

Reference no: EM133425979

Question: Throughout the history of Malaysia, the industrial discharges of rubber and palm oil as the primary commodities and the domestic sewage have been recognized as main contributor to the environmental issues in this country.

In handling the problems brought by those primary sectors, the government has introduced Environmental Quality Act 1974 (EQA). However, due to the vigorous expansion in the industrial sector and infrastructure blooming in the 1980's. In response to the new challenges at that time, another policy has been put forward to be implemented under the ruling of Environmental Impact Assessment (EIA).
These two policies are, among others, have various preventive measures such as pollution prevention and control, resource conservation for sustainable development, awareness and education on environmental issues, cooperation with other countries, integrating the dimension of environmental awareness in development planning, and many others.

(a) By using your understanding of economics, demonstrate how the issue of pollution contributed by rubber and palm oil industries can be resolved by adopting internalization of externalities.
(hint: provides graphical diagram and examples).

Reference no: EM133425979

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