IEcoS (Economic Services) Economics Paper-3: Questions 70 - 74 of 74

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Question number: 70

» Environmental Economics » Pollution Taxes and Pollution Permits

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Appeared in Year: 2012

Essay Question▾

Describe in Detail

Write short note on Dose Response Method.

Explanation

Dose response method requires the information on the effect that a change in a particular pollutant will have on the level of an economic activity or a consumer’s utility.

  • According to OECD, Dose-response method measures the relationship between exposure to pollution as a cause and specific outcomes as an effect. It refers to the damages or p

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Question number: 71

» Public Finance » Theories of Taxation » Optimal Taxes and Tax Reforms

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Appeared in Year: 2018

Essay Question▾

Describe in Detail

What do you mean by optimal taxation?

Explanation

  • Optimal taxation depends upon the trade off between efficiency and fairness.

    • A fair tax is one that guarantees a socially desirable distribution of tax burden; an efficient tax is one with a small excess burden.

    • A fair tax is often the one that imposes equal liabilities on people that have the same ability to pay, whereas an efficient t

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Question number: 72

» Environmental Economics » Green GDP

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Appeared in Year: 2010

Essay Question▾

Describe in Detail

Write a short note on Green GDP.

Explanation

Green GDP is used for expressing Gross domestic Product after adjusting for environmental damage. The System of National Accounts (SNA) is an accounting framework, which measures the economic activities of production, consumption, and accumulation of wealth in an economy during a time period.

  • When information on the use of economy’s natural e

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Question number: 73

» Environmental Economics » Environmentally Sustainable Development

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Appeared in Year: 2010

Essay Question▾

Describe in Detail

Explain Coase theorem to ensure socially optimum solution.

Explanation

The article ‘The Problem of Social Cost’ was published in the journal of ‘Law and Economics’ in 1960. He argued that govt. need not be involved in internalizing the externalities. Private bargain and negotiations can lead to efficient solution without government intervention. This view is popularly called Coase theorem.

  • The basic idea of this

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Question number: 74

» Industrial Economics » Market Structure

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Appeared in Year: 2010

Essay Question▾

Describe in Detail

Write a short note on economies of scale.

Explanation

Economies of scale are cost advantages enjoyed by companies when production process becomes efficient. Companies can achieve economies of scale by increasing production and lowering down their costs.

  • This happens because costs gets scattered over a larger number of goods.

  • Economies of scale are the competitive advantage that large entitie

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