Question
Policy Question #1
According to contemporary science, theexploitation of natural resources in order to satisfy theworld’s unlimited wants has induced a process of globalwarming, that is changing weather patterns and threatening the veryexistence of man. In an essay of no-less than 5 paragraphs(more is usually better), complete the following steps:
Step One: Explain what is meant by the economizing problem.
Step Two: Explain (briefly) how the exploitation of naturalresources, in order to satisfy the economizing problem, has led tothe problem of global warming. (This part will requireoutside research.)
Step Three: Explain how you believe societies should balance theneed to satisfy our wants with the importance of protecting theenvironment and minimizing the impact of global warming.
Policy Question #1
According to contemporary science, theexploitation of natural resources in order to satisfy theworld’s unlimited wants has induced a process of globalwarming, that is changing weather patterns and threatening the veryexistence of man. In an essay of no-less than 5 paragraphs(more is usually better), complete the following steps:
Step One: Explain what is meant by the economizing problem.
Step Two: Explain (briefly) how the exploitation of naturalresources, in order to satisfy the economizing problem, has led tothe problem of global warming. (This part will requireoutside research.)
Step Three: Explain how you believe societies should balance theneed to satisfy our wants with the importance of protecting theenvironment and minimizing the impact of global warming.
Explanation / Answer
Step One: This is simple and the fundamental issue ofeconomics. The constant battle to meet unlimited wants with limitedresources. In other words dealing with scarcity (the distributionof those limited resources). There are four types of scarceresources: time, land, labor, and capital. Step Two: For this part of the problem your question is askingpurely about the exploitation of natural resources that must happento meet the unlimited wants of the population. *Now you can getinto a debate as to whether global warming is in fact real or notbut that is not addressed in this question* So to continue how doesa society harvest, distribute, and utilize these natural resourcesin an efficient and effective manor (Note that efficient andeffective goals often contradict one another)? Here you can examinethe effects of global warming and the potential effects such asSulfer Dioxide and Fluorochlorocarbons to begin. Step Three: Here they are asking you to come upwith an idea of relief for this issue. You can point to thelegislation and laws already in effect such as emmisions standardsand industrial wavers. The question is really asking if you believesociety has a responsibility to protect the environment and if sowhat should people be forced or asked to give up to combat thegrowing environmental issue. Tax cuts for cutting emissions? Taxbreaks for technological research for cleaner production? Adcampaigns aimed towards vilifying big business? This is for you todecide but tax cuts for cleaner living is the most common intoday's 1st world societies and with larger breaks morebeneficial effects may be seen. *Now i'm not going to write your paper for you but since iassume this is an introductory level economics class some of thesituations i have outlined in the previous paragraphs will serve asa good outline for your paper.* Hope I helped!