The demand for commodities has stimulated production rates to increase and created an increase in the toxic by-products that are harmful to the environment. The toxic waste products are passed on to society. Only by lowering the number of commodities that industry manufacture can we hope to lower the continuation levels to the natural environment.
A trend that will not happen in our current consumer-driven economy. To combat this disturbing trend, economists have argued that the cost of production should include the costs of pollution. These costs are too numerous to list in full but include: Here is an example of how this cost consideration would work:. A number of units it could produce would go down due to the increase in expense. The sales price of the product would also increase significantly as the economically friendly model would have greater production cost to recover.
A customer comparing products that have the technical specifications where the only difference is one is eco-friendly would usually opt for the cheaper option — the freezer that damaged the environment. This means eco-friendly companies cannot produce the same number or compete effectively and will return much lower profits.
To reduce the pollution, there has to be a significant change in consumer behavior where eco-friendly products are more desirable; or, governmental legislation has to be put into place, where environmental damage leads to a greater cost than producing a clean product. It is only through such actions that the economic needs will shift to protect the environment from harm. Academic level Undergraduate Bachelor Professional. Deadline 14 days 10 days 6 days 3 days 2 days 24 hours 12 hours 6 hours 3 hours.
Unlock Please, enter correct email. Important Areas of Research Microeconomics is an area of economic science that is based on a robust body of scientific research. Here is a list of general topics that a micro-economics paper question can be formulated around: The balancing of supply and demand Elasticity. This is to see how fast one variable response to a change in another variable. How consumers can reconcile the balance between the need of buying a product or a service against its cost.
The theory of production. This studies how inputs are transformed into outputs. Production costs Perfect competition Monopoly and how the existence of a single dominant supplier for a commodity affects the marketplace, and consumer demand theory The structure of a market and the system that comprises it.
Game theory The economics of labor Economics of information An argumentative essay on the microeconomic market structure Opportunity costs. Discuss the conditions required for a practical implementation of the Micro-economic model include the interaction between natural, industrial and household. What ecological problems are the US and Europe facing due to their planned economies? Micro-economic essay questions focused on Supply and Demand: What is the impact that supply and demand have on pricing?
How are supply and demand is influenced by the labor market? What role does the Labor union play in this? How impact does the different types of market structure, have on supply and demand. Micro-economic essay questions focused on Ecology and Nature: How do seasonal fluctuations affect the economy?
An investigation into the demand for clean energy and how it is being supplied. How is the economy affected by the natural world? Choose an industry and discuss the impact ecology had its location What are the profits and loss of relocating from a poor to a better ecology?
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Arguably the hardest part of any writing is the beginning, and economic essays are no exception. This is exactly why it is an excellent idea to begin writing your essay with the introduction and get it over with as soon as possible. A historical overview economics essay could take the form of a comprehensive overview of a specific time period (and its impact on society). An overview might also focus on one specific component of the economy (such as interest rates or technology) and trace its impact throughout a time period.
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