A toxic dumping site leaks into a local water supply and prompts a public outcry. The local and then the state government each t
ake actions to clean up the site and to fine the company for damages. Which of the following would be a potential positive externality for the national environment?A. More funds for pro-business political candidatesB. Increased funding for oceanic research effortsC. Renewed interest among students in the humanitiesD. Tighter federal oversight laws and restrictions
Positive externalizes refers to the things that is not directly involved in the exchange between consumers/producers, but will influence the market as a whole.
In the example above,
Public outcry toward the toxic dumping might encourage the government to make preventive measures on other areas. This can lead to the creation of Tighter federal oversight laws and restriction.
This will heavily benefit the market because the consumers would not experience the negative aspect for worsening environment from the products that they buy, and the producers could compete in a more healthy/humanly manner.
I enjoyed how I was able to actually see how the foundations of the US government came from people who weren't perfect. The musical doesn't try to show them in a perfect light where they are all saints who are to be praised at all times. No, it shows that they made mistakes and that this government was created with perfection, but it has allowed so many people to influence the world we live in today.
Introspection refers to the process to gain insight by examining one's own cognitive process. It can be observed both formally and informally. Sometimes, we randomly realize our own thoughts, feelings, and emotions its is an informal introspection. But it is also an important psychological technique to carefully analyze the meaning of one's own thought.
