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The greenhouse gas emission is estimated to grow in the medium and long term. In order to minimize the negative effects of global climate change, it is required to stabilize the concentration of greenhouse gases in the atmosphere through prompt and substantial cut in greenhouse gas emissions. For this end, it is indispensable that every major emitter sets some legally binding target for cuts in greenhouse gas emissions. Developed countries, which have achieved economic growth through emitting large amounts of greenhouse gas, must be responsible to take the initiative in reducing emissions. Moreover, it is important that developing countries, whose greenhouse gas emissions are predicted to eclipse those in the developed countries soon, participate and reduce the growth of greenhouse gas emissions.
Under such circumstances, some countries seek to adopt a new and comprehensive legal document that establishes a fair and effective international framework in which all major economies participate. They argue that, besides the controversial issues of equity, equal footing, and burden sharing, any programs without some major emitters are less effective and can even ruin the cuts achieved by the participants.
Explain how a non-broad-based framework is less effective in combating global climate change.
The use of arc elasticity in economic analysis involves a good deal of chariness since it is capable of being misinterpreted. Arc elasticity coefficients vary between the same two
Custodian of Member Banks Cash Reserves As bankers bank the central bank performs several function. It keeps the cash reserves of commercial banks in the economy and thus acts
factors affecting demand forecasting
Determine a Specific Price of demand of product A proclamation concerning the demand of a product without mentioning its price is worthless. For instance, to state that demand
What is advertising elasticity? Explain
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the benefits of exchange in the light of the law of association, the introduction of money in direct exchange and way income gets distributed among market participants
Income elasticity of demand The income elasticity of demand measures the degree of responsiveness of the quantity demanded of a product to changes in income. Its co-efficient
Menu Costs Why do firms not change their prices very frequently? Obviously, the costs of changing prices at frequent intervals and in small amounts must be more than the b
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