the textbook states that prices we pay for goods and services do not include the
ID: 115566 • Letter: T
Question
the textbook states that prices we pay for goods and services do not include their harmful environmental costs. what does this mean? can you think of one potential benefit of including environmental costs in market prices? the textbook states that prices we pay for goods and services do not include their harmful environmental costs. what does this mean? can you think of one potential benefit of including environmental costs in market prices? the textbook states that prices we pay for goods and services do not include their harmful environmental costs. what does this mean? can you think of one potential benefit of including environmental costs in market prices?Explanation / Answer
This means that the pages and hard bound which comprises textbooks are made up trees and although we are paying for the textbook but in order to make these text book we have lost number of trees and hence we would be facing global environmental consequences like global warming, glacier melting, low concentration of oxygen in air, global sea level rise etc.
One potential benefit of including environmental costs in market prices can be that when prices of these books will rise the consumers will either go for e-copies of these books or will use books more efficiently(by reusing them) either way this be beneficial for consumer as well as for environment, which in turn is also beneficial for consumer.
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