What do you think is the most relevant externality resulting from economic activity that impacts the environment?

Assignment says : Take your time to compose a well thought out, critical analysis of your ideas based on the
theories, models, evidence, and sources you have been presented with in class. Feel free
to draw on other relevant sources as well, as long as you cite all sources used. You can
choose whether you prefer APA or MLA format for this.
A good target length for this assignment is 2-4 pages double-spaced. The final length of
your assignment will be dependent on how long it takes you to eloquently compose your
reflections. Think quality discussion over quantity here. It is not about how much you
can write. I am much more interested in the quality of your ideas and opinions.
Key Points to Address:
1. Why do we consider the environment and our available natural resources public
goods? What about common resources?
2. What do you think is the most relevant externality resulting from economic
activity that impacts the environment? Be sure to explain how your choice
qualifies as an externality and what impact it has.
3. Of the methods discussed so far for valuing the environment, which do you think
would be most effective at properly managing natural resources? Why?
4. Consider the in class activity and discussion we had surrounding present versus
future valuation of natural resources. Keeping in mind that higher discount rates
highly favor the present over the future, what do you consider to be an
appropriate value for the discount rate? Use a scale from 1-10%, and explain
your choice in the context of how important conservation for the sake of future
generations is from your point of view.

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