A Solution to the Externality of Greenhouse Emissions Will Be

question 96

Multiple Choice

A solution to the externality of greenhouse emissions will be difficult to achieve because

• A) the scientific evidence is weak.
• B) nations enjoy polluting the environment.
• C) an international political organization is necessary to enforce the solution.
• D) the technology to reduce emissions is undeveloped.
• E) the technology to reduce emissions is extremely expensive.

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Definitions:

Elastic

In economics, it describes a situation where the supply or demand for a good or service changes significantly when its price changes. High elasticity indicates that a slight price change could lead to a significant change in quantity demanded or supplied.

Percentage Change

A mathematical calculation that represents the degree of change over time, expressed as a percentage, to compare changes in quantities or measures.

Total Revenue

The comprehensive amount of financial earnings a company gathers from its sales and services over a designated period.

Elastic Demand Curve

A demand curve that indicates a high responsiveness or sensitivity of quantity demanded to a change in price.