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1) Describe a negative externality that you (or someone you know) have experienced in your (or...

1) Describe a negative externality that you (or someone you know) have experienced in your (or their) life.

     a) Has the government tried to intervene in order to discourage this negative externality? If so, how?

2) Describe a positive externality that you (or someone you know) have experienced in your (or their) life.

     a) Has the government tried to intervene in order to encourage this positive externality? If so, how?

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Answer #1

Ans 1: A negative externality: High pollution level in the city which is affecting environment negatively, causing health problems to the citizens.

(a) The government took steps to intervene in the market and discourage the negative externality. The government shuts down the excessive pollution emitting firms, the government imposed heavy taxes on vehicles which emits excessive pollution and provide subsidy on electric vehicles.

Ans 2: A positive externality: River rejuvenation project undertaken by an NGO in India rejuvenated many rivers which benefited the farmers, citizens of that area and improves the flora and fauna of the location.

(a) The government provided help to those NGO so that they can rejuvenate more rivers.The government encouraged them by giving them prizes and honoring them at various platforms. The government provided the instruments and many government permissions and clearance so that NGO can rejuvenate the rivers.

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