How Do Externalities Affect You, economics homework help

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Rentba000

Economics

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I need for you to complete the researchchart document. Research a community and find what the community can do to address the issue you have chosen. Please use West Palm Beach, FL as the appointed community.

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6.03 6.03 Research Chart Subject Consider all possible solutions or alternatives. Guiding Questions 1. Give 3 possible solutions to the economic issue you are investigating. Your Responses 1. 2. 3. 2. Why would some people oppose the solutions you have chosen? (Answer for each solution) 1. 2. 3. Calculate the consequences of these solutions—both intended and unintended at all levels of the economy. 1. What positive or negative externalities does this issue present at each sector of the economy? Refer to your circular-flow diagram. Be sure you look at the positive and negative for EACH of your solutions from above. Households – Positive – 1. 2. 3. Negative – 1. 2. 3. Businesses – Positive – 1. 2. 3. Negative – 1. 2. 3. Government – Positive – 1. 2. 3. Negative – 1. 2. 3. Rest of the world – Positive – 1. 2. 3. Negative 1. 2. 3. 2. What incentives do individuals, businesses, and government have to act on each possible solution? Be sure to look at each solution for each incentive. Individuals – 1. 2. 3. Businesses – 1. 2. 3. Government – 1. 2. 3. 3. What are the externalities, both positive and negative that could result from each possible solution? Save the file as 603research and submit to assessment 6.03 Positive – 1. 2. 3. Negative – 1. 2. 3. Economics with Fix 19 06.01 Environmen x SCVS Economics X United States Gov X S Feed Site | Studyp 04.02 Should the X C four_reasons_not_x $15 Minimum Wa X Nicholas + 7 C © learn.flvs.net/webdav/educator_econfinlit_v16/module06/pop/06_01_03/06_01_03_popb.htm : II. Apps ►YouTube vimeo Watch anime Am Manga Stream Read Manga Watch Series FLVS 123movies AfDah Official ARK DeviantArt K KissCartoon G Google Oasis Timekeeper >> 06.01 Environmental Policy Topics The list below includes some topics that you may want to consider for your Module Six Project. Please keep in mind that your topic must be relevant to your local community. You are not limited to this list. Follow the steps and recommendations in the lesson to help you decide which topic to pursue. . . 0 Water scarcity Sustainable development Climate change Animal overpopulation Air pollution Energy conservation Water pollution Resource stripping Sanitation Erosion • Hazardous waste Transportation • Chemical safety Malnutrition Biodiversity Deforestation Population/food supply Noise pollution . . . . Economics with Finan x SCVS Economics with x United States Govern x S Feed Site Studypool x 04.02 Should the Gov x C four_reasons_not_to_r_X $15 Minimum Wages X Nicholas : 7 C learn.flvs.net/educator/student/frame_toolbar.cgi?mtidd1*nicholas240*mpos=1&spos=0&option=hidemenu&slt=FTEEutHczjnll*4211*http://learn.flvs.net/webdav/educator_econfinlit_v16/inde... ☆ Apps ►YouTube movimeo Watch anime im Manga Stream Read Manga Watch Series FLVS 123movies AfDah Official ARK DeviantArt K Kiss Cartoon G Google Oasis Timekeeper II. >> FLVS | myFLVS Economics with Financial Literacy Economics Of The list below includes some topics that you may want to consider for your Module Six Project. Please keep in mind that your topic must be relevant to your local community. You are not limited to this list. Follow the steps and recommendations in the lesson to help you decide which topic to pursue. 40 Economic Policy Areas Specific Topic Ideas Transportation Constructing and managing a high-speed rail system, expanding existing roads and highways, adding public bus system Energy Build nuclear power plant, require new homes and buildings to install solar energy panels, renovate city buildings to be more energy efficient Education Build a four-year university, allow building of charter schools, create dropout prevention program, build after-school youth center Housing Drain wetlands to build new neighborhood, build new apartment complex in central part of city, Water Build new water treatment plant, upgrade sewage system throughout city Jobs Offer lower taxes attract new businesses, create job training program for jobs in demand locally Module 6 Review Guide Externalities: The effects (positive or negative) that third parties (people who did not make the initial choice) experience. A local store decides to dump their trash in the river, rather than dispose of it the proper way. You now experience contaminated water and must use filters, boil water, etc... to avoid getting sick (negative externality) The city needs to hire 150 people who were once unemployed to help with the clean-up efforts (positive externality for those households who now are gaining income) Definition: Rational Decision-Making Model 1. Define the situation or problem. 2. Identify the important criteria to evaluate possible solutions. 3. Consider all possible solutions or alternatives. 4. Calculate the consequences of these solutions versus satisfying the criteria. 5. Choose the best option. The Circular Flow Diagram - Shows the interactions between all the participants in the economy Government: any lawmaking body (local, state, or national) that collects taxes and provides services to individuals and businesses. (Major's Office, IRS, Federal Government) Households: individuals like you and those living in the same home. (Your Family and neighbors) Business Firms: any company type that earns income from the sale of goods and services. (Zephyr Hills, or Pepsi Co.) The World: represents interaction with all those three groups in foreign countries. (France or England) Product Market: the buying and selling of finished goods and services. (Walmart, or John's Groceries) Factor Market the exchange of the factors of production including components of land, labor, and capital. (Van-der-pool Farms, or Jimmy Shrimps, or a mine) Financial Market: the stock market and banking services, including the loans all the other economic players use to meet their goals. (Federal Reserve, Wells Fargo, or PNC Bank) Costs or benefits to third parties Can be: Positive-consequences are desirable and welcome effects on third parties. Externalities Or Negative-consequences are undesirable and unwelcome effects on third parties. Result from: Free Resources productive ingredients that exist in quantities greater than people need or want for production- air, rivers) Free Riders (Benefit without the cost of the good) Common Goods (Public Schools Beaches, Parks) How each participant in the economy is affected by externalities caused by Air pollution cleanup Government Spendine Government Borrowine Services & Transfer payments Negative Cost of cleanup, increase of production costs 个 Taxes Participant Business Firms Households Private Savines Positive Healthier workforce, public support for business Decrease in asthma, enjoy outdoors Increase sales in cleanup products, cleaner/ safer edible products Consumer Spendine Income Wages Increased costs of cleanup products, potential layoffs caused by forced changes in industry Reduction of employment hours due to healthier staff and less absences, increased costs in A/C filters to keep the air clean Product Market Product Markets Financial Markets Factor Market Increased competition caused by an increase in supply, weather changes may de-stabilize farming practices Factor Goods and Market Services Labor (Jobs & Business Entrepreneurship Revenue Business Costs World Increase in more "organic" products, increase in production in the farming industry Decrease in environmental disease, increase in domestic production results in higher exports Increase in sales tax collections, Increase in govemment reputation Opening of "greener" solutions as more viable might result in a significant decrease of production and profits on multinationals, Foreign interventions to force countries to become "greener" Goods and Services Borrowing and stock transactions by firms Government Imports from US to ROV Foreign borrowing and sales of stocks Clean up programs mightincrease spending and develop a community dependentin government interaction, decrease in reputation from people who feels compelled to have their tax money used for a problem they have no part with Fossil fuel companies might drop their stocks due to new cleaner alternatives available in the market, Decrease in savings/checking personal accounts resulting from an increase in purchases from households Exports to US from ROW Foreign lending and purchasine of stocks Financial Market Loans granted to expand/start cleanup companies, increase in economic transactions
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Name 1
Name
Professors Name
Course Title
Submission Date6.03
6.03 Economic Relationships Research Chart
Invasively exotic plants and animals species (EPA) found in West Palm Beach Florida continue to
biologically invading natural habitats as reluctant pet owners intentionally release delicate
nonindigenous animals into various counties. Invasive species destroyed by of diversities and cause
ecological destruction of native wildlife ecosystems.
6.03 Research Chart
Subject: Invasive Species
1. Establishing and
Strengthening federal
initiatives
2. Eliminate and
discourage exotic
animal trafficking by
stiffening animal import
laws
3. Community awareness
of locally populated
invasive species
4. Strategically developed
prevention intervention
5. Coordinate
authoritative agency
collaboration

Guiding Questions
1. Eliminate importing nonnative plants and species.
2. Require all non-native
animals to be microchipped.
3. Increase exotic and
intru...


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