Which of the Following Reasons Is Correct in Explaining Why

question 35

Multiple Choice

Which of the following reasons is correct in explaining why governments are slow or unwilling to create determined and effective policies combatting climate change?

• A) Often costly to achieve
• B) Science is not compelling on the subject
• C) Technology does not exist to replace fossil fuels
• D) Governments waiting for public to voluntarily reduce their environmental impact

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Definitions:

Consumer Surplus

The difference between the maximum price consumers are willing to pay for a product and the actual market price they pay.

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual amount they receive due to market price.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good that suppliers are willing to sell in the market.

Producer Surplus

The difference between the amount a producer is willing to accept for a product and the actual amount they receive in the market, indicating economic benefit.