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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.
A change in the legal statute may be able to force an equilibrium if it leads to a new equilibrium which implies some revised belief which sustains the equilibrium. Tirole (1996)
how wage increase of fixed income groups'' will affect the overall economy? what are effects exactly?
Q. Political Trans-national Activity? The dynamics resulting from the institutional interdependencies are of major importance for an understanding of the process of political t
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Case study
what is multinational? how can they help developing economies?
Let us now consider a situation in which we know the timing of a change in policy but are unsure about the composition of the future policy. The association of different policy co
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