1:Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market's scope. These are called externalities. As a policy maker concerned with correcting the effects of gases and particulates emitted by and local power plant, answer the following questions:
2: The purpose of this question is to become familiar with the terms import and export, and then discuss advantages or disadvantages of buying imports versus buying domestic products in relation to the fashion industry.
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These questions in economics deal with microeconomics such as environmental policies on the economy. One of the neglected areas is transportation. Transportation accounts for most pollution and green house gases emission. Import and export of goods from and into the economy and their impact on the economy and foreign exchange, etc have been discussed in the solution.
Total word count is 1340
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