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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.
It has been accepted to most policy and development economists that among the most important sets of institution in an economy are those that provide for enforcement of contracts.
what is public debt. ? give complate information on public debt. ?
PIGOVIAN APPROACH Pigou assumed that the aim of social policy is to 'promote welfare'. But in order to simplifL this, he chose to restrict the range of his inquiry to
Deductibles and copayments are two common incentive tools in insurance. (a)Explain which informational problems each tool primarily addresses. (b) If only one had to be used, indic
with the aid of labelled production possibilty frontier explain the concept of opportunity cost
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There is no doubt that the environment surrounding business organizations play an important role in influencing the decisions of those organizations and their strategic plans. That
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