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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.
For a very large part of 20 th century, we may recall, there existed capitalist market-oriented economies and socialist planning-oriented economies. 21stcentury is however witness
The ABC corporation is contemplating purchasing a new computer system that would yield a before-tax return of 30 percent. The system depreciates at 10 percent a year. The after-tax
Q. What do you understand by Policy Process? Begin from theoretical frame work of policy making and proceed breaking various assumptions and introducing heterogeneity of agents
“In the presence of institutional constraints, the Theory of Second Best tells us to perform the welfare maximization problem to solve the Pareto Optimal conditions and then apply
Suppose there is certain social norm. Its enactment into statutory law lowers people's private cost of its enforcement because it creates the possibility that violation of norm wi
Explain the stages and various coordination mechanisms involved in policy processes. Discuss various factors that influenced the agenda setting in policy processes
Write a short note on product mix efficiency?
State ramsey rule of optimal commodity taxation and the intuition for it
What makes a public opinion poll scientific 1. To what extent do we really think about political issues as individuals, or are we more influenced by our environment -family, t
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