Discuss Three Ways You Can Reduce the Waste You Generate

question 13

Essay

Discuss three ways you can reduce the waste you generate at home.

Grasp the idea and utility of bartering in business transactions.

Know the structure, benefits, and limitations of franchising for small businesses.

Identify different sources of funding available to small businesses and their characteristics.

Differentiate between various types of small business ownership and their operational impacts.

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Definitions:

Negative Externalities

Costs that are suffered by a third party as a result of an economic transaction or activity, for which they are not compensated.

Tobacco Industry

The sector of the economy involved in the manufacture, marketing, and sale of tobacco and related products.

Corrective Tax

A tax designed to encourage or discourage certain behaviors to correct for the effects of externalities.

Socially Optimal

A state of resource allocation that is most beneficial for society as a whole.