MGT610 Assignment 1 Solution and Discussion

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SEMESTER FALL 2019
BUSINESS ETHICS (MGT610)
ASSIGNMENT NO. 01
DUE DATE: JAN 24, 2020 MARKS: 10
The substance of the internalization of environmental costs is to resolve the external effect in the economic of environment as resources having public goods characteristics. Externality refers to the effect of the producers’ production behavior (or consumers’ consuming behavior) on the welfare of a third party. It is an additional effect of non-market that an economic force does on another, including the positive externality and negative externality. If this resource is scarce, meaning that different subjects are incompatible with each other, then the negative externality will inevitably occur. The environment is just a typical kind of scarce resource, and certain economic entities in the use of the environment will affect the use of other economic entities on the environment. Therefore, environment pollution in the use of environment has the typical negative externality. So the internalization of environmental costs helps to improve the level of welfare effect of the whole society. Thus the internalization of environmental external costs is necessary.
Discuss the ways which are helpful to internalize the environmental costs to reduce environmental pollution.
Reference:
INSTRUCTIONS
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Long, G., Lei, W., Sijie, C., & Bo, W. (2012). Research on Internalization of environmental
costs of Economics. IERI Procedia, 2, 460-466.

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@zareen said in MGT610 Assignment 1 Solution and Discussion:

Discuss the ways which are helpful to internalize the environmental costs to reduce environmental pollution.

Overall,the internalization of environmental costs helps to improve the level of welfare effect of … On how to solve the environmental impact of negative externalities, back in … denoted by Cc; if the producers do not control pollution and pollution will … Discussion on the recognition and measurement of environmental costs.

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MGT610 Assignment 1 Solution and Discussion