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the problem of climate change in terms of market failures
Essay specific features
Written by:
Erick L
Date added:
December 24, 2012
Level:
College
Grade:
A
No of pages / words:
1 / 216
Was viewed:
7480 times
Rating of current essay:
Essay content:
Imposing property rights means that we give the right to utilize the goods to some one, some entities and clubs. Meanwhile, the characteristics of public goods are non-excludability and non-rivalry. Non-excludability means that it is impossible to prevent individuals from utilizing the good. Non-rivalry means that the consumption of the goods by an individual does not reduce the available amount for others to consume...
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Non-rivalry means that the consumption of the goods by an individual does not reduce the available amount for others to consume.
Carbon dioxide (CO2) and other GHG are emitted to the earth atmosphere. Meanwhile, the atmosphere itself is a public good. It is non-excludable as everyone in the earth can emit anything to it or breathe the air from the atmosphere...
displayed 300 characters
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