Positive externalities of production生产的正外部性 - : are benefits for society that result from the production of a product or services. Businesses that manufacture the goods are responsible for these. An important characteristic of positive externalities of production is that even though a company does something that benefits society, they do not receive additional payment or compensation for this service., Negative externalities of production生产的负外部性 - : are a cost at the expense of a third party. These are harmful effects on society that result from a business producing its product or services. For example, pollution is a negative externality of production because it harms the environment, which is a third party uninvolved with the manufacturing or consumption of products that create pollution., Positive externalities of consumption消费的正外部性 - : are benefits that society receives when a customer consumes a product or service. It's helpful for businesses to advertise the positive externalities when trying to sell a product. When people know that using a product serves both themselves and others, they may feel more motivated to purchase it., Negative externalities of consumption消费的负外部性 - : are results from consuming a product that may harm a third party. These consequences outweigh the private benefit gained by using a product or service. For example, noise pollution is a negative externality of consumption that consumers may cause with lawn care machines or sound systems., The value-added tax (VAT)增值税 - is a typical example of indirect tax. This is a tax added to purchases. This means that firms will pay VAT as they buy inputs, which will affect how much they sell the products to consumers. VAT is usually a percentage of the value of the product. A $5 book with a VAT of 20% will be bought for $5 + 20% of $5, which is $6. Indirect taxes are implemented to account for externalities or external costs. For example, if a product pollutes the air, we could say the tax on that product could be set to equal the cost of planting one tree to account for the pollution. How effective an indirect tax is, depends on the product's elasticity. A price elastic good with indirect tax will lead to a larger burden on producers than consumers. Consumers will just decide not to buy much of the product. Hence, demand will reduce, and less revenue will be generated for the government in indirect taxes. A price-inelastic good generates the opposite of this. Figure 1 helps explain the effect of indirect taxes., Subsidies补贴 - : can be considered the opposite of tax as it results in a reduction of production costs. Subsidies are pardons or rewards given to firms for producing goods that improve social welfare. Subsidies are benefits given to producers to promote social welfare. Direct subsidies are cash payments given to firms, whereas indirect subsidies are tax breaks. Suppose a company makes solar panels that help reduce greenhouse gas emissions. In that case, the government may give that company a tax break or a cash grant to produce more solar panels since such products improve social welfare.,

Wordwall: Humanities Eco Review Link 7 (with some Chinese to help)

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