One of the Essential Factors in a Sustainable Future Based

question 8

Multiple Choice

One of the essential factors in a sustainable future based on improving human well-being and protecting our common environment is

• A) Technology transfer from developed to developing countries
• B) Environmental and resource protection
• C) Increased aid for developing countries
• D) A demographic transition to stabilized population growth for developing countries
• E) All of these

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Definitions:

Willingness to Pay

The maximum amount an individual is prepared to spend for a good or service, reflecting the value they assign to it.

Consumer Surplus

The difference as marked by what consumers are prepared to spend on a good or service versus the actual payment made.

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.

Externalities

Costs or benefits that affect a party who did not choose to incur that cost or benefit.