Social Cost Benefit Analysis And Itemization Of On Site...

Social Cost Benefit Analysis And Itemization Of On Site...
Joseph Cavera
Dr. Pankaj Lal
Environmental Economics
November 22, 2014
Social Cost Benefit Analysis and Itemization of On–Site Sediment Remediation
Introduction/Background
Transport of contaminated sediments from major regional Superfund projects in the NY/NJ harbor
corridor has been the preferred back–end alternative after the dredging remedy is performed in order
to clean these areas without generating higher costs. However, after dewatering, these sediments are
shipped at great distances (to UT, OK, TX, ID) for final disposition at C landfills or for incineration.
Corporate risk management in mishandling the Superfund sediment in transport such as a derailment
can lead to long–term corporate liability as well as environmental hazards from a spill from both the
ecological and human health perspectives. As such, a new localized remediation method involving
superheating sediments on–site within a rotary kiln have recently been implemented in other areas,
and, because of its beneficial use product generation, reduction of risk and gaseous contaminants,
and removal of transport costs, it is now being considered as a viable alternative to traditional post–
dredge remediation procedures.
This social cost–benefit analysis will look at the Focused Feasibility Study Report (FFS) on the
USEPA Passaic River Superfund concentrating on sediment processing and subsequent transport by
rail to out of state landfill and incineration facilities. Costs components of the process have
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Social Cost Of Violent Crime Report
The estimated victim's social cost for burglary(without injury) is $1,400.00, while the estimated
offender's opportunity cost for burglary (without injury) is $1,100.00 (Miller, Cohen, & Wiersema,
1996).
Social Costs of Violent Crimes Violent crimes are defined as crimes that entail the use of force or
harm to the physical body of another person. The gravity of a violent crime is typically established
by the scale of bodily harm caused. The utilization of a weapon raises the severity of the offense
(Izzi, 2014). Common violent crimes might include assault, aggravated robbery, sexual abuse,
domestic violence, battery, rape, and homicide. Other crimes can be categorized "violent" even
when the victim is not physically injured, for example crimes ... Show more content on
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The mental pain and suffering, psychological damages, ongoing costs for physical and mental
rehabilitation, and emotional traumas caused by the crime. Physical or psychological damage that
brings about a loss of quality of life for the victim and/or the victim's family is an intangible cost.
Criminal
Common tangible or "opportunity" costs incurred by the offender include lost wages, loss of tax
revenue, legal and court costs, possible fines, fees, and monetary reimbursements to the victim
and/or victim's family. Typical intangible costs for the offender involve the loss of their freedom, the
guilt of financial and emotional impact on their family, the weight of responsibility of their actions,
and in cases that call for the death penalty a loss of their very life. For example, tangible costs of an
armed robbery that results in an injury to the victim might include damages to the victim's material
belongings or property, the cost to repair the damage or cover the value of damaged or lost items,
and if the victim is injured the medical costs associated with care. If the victim is killed during the
robbery the charge escalates to homicide and the victim's family receives compensation for the
material losses and financial costs of the crime. The tangible costs to the offender would be to cover
these losses and reimburse the victim/family for their financial and physical suffering, as well as pay
legal fees and court

Social Cost Of Carbon Tax Analysis
The central question related to the carbon tax is how should the tax rate be designed, and one most
straightforward approach is to set the price of emission per ton equals to the social cost of carbon
per ton, which represents the social incremental damage of emissions. Such a Pigovian tax is ideally
an economically efficient way as it would lead to the socially optimal level of emissions where
marginal benefits of emission equal to the marginal costs (Kaplow, 2012 as cited in Metcalf, 2017).
However, estimating the social cost of carbon is complicated because the cost represents the present
value of expected environmental damages caused by one additional unit of emissions today, while
the damages persist far in the future. To accurately measure ... Show more content on
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Major bills include Cut Carbon Act of 2009, Save Our Climate Act of 2009/2011, Climate
Protection Act of 2013, American Opportunity Carbon Fee Act of 2017/2018 (C2ES, 2013;
Congress). All of these acts try to impose a carbon tax to reduce emissions of carbon dioxide, and
almost all of them have specified all taxable carbon substance sold by the manufacturer, producer, or
importer of the substances as the coverage of the tax. Most of them have specified emission targets
as to reduce the U.S. carbon dioxide emissions 80% below levels of some given year by 2050, with
different starting tax rates ranging from $10 to $20 per ton of CO2 and different annual increasing
rates. Some acts suggest the Treasury as the regulatory authority, and some suggest the
Environmental Protection Agency. Even though carbon tax is a topic that has been consistently
brought up, none of the acts were passed and enacted. There are also attempts to apply a carbon tax
at the state level, nevertheless, no US states currently have authorized

Social Security Cost Analysis
Giselle: 2009#1 Looking at the numbers, the very tangible loss of money––money funneled
seemingly endlessly into space, into technologies that we abandon, into missions that may fail, into
promises of progress ten, twenty, fifty years from now––it can be difficult to justify that immediate
loss with the seemingly insufficient immediate gain, the gain of nothing but knowledge––so very
intangible that it is. Perhaps this is frustration is born from the fact that we have never done anything
like this before––we have never before been able to leave home for something so infinitely vast. We
have never before been faced with the reality that we are so impossibly small. The world has grown
so large in such a very short time, and the average person ... Show more content on Helpwriting.net
...
In the United States, Social Security comes first, taking about 21% of the federal budget in 2006,
with national defense coming second at 19%. Then, comes income security, Medicare, health, and
the interest incurred by the national debt before "all others" comes. "All others" (taking 6% of the
federal budget) refers to a multitude of things, including space and technology, but also including
international affairs, administration of justice, natural resources and environment, agriculture, and
energy, among others (Chamberlain). It is clear that when compared to major federal expenditures,
money funneled to space exploration is so fractional as to not be concisely accounted for. The
question regarding money, however, is not how much, necessarily, is being spent, but if it itself is
necessary. The question of necessity is, itself, difficult to answer no matter the evidence provided.
When the Social Security Act was first introduced as part of Franklin Roosevelt's New Deal, some
thought it was unnecessary. Some argue, today, that the US overspends on its defense sector and has
since it entered WWII. Space is different, though, because it is so very new to us. It is almost
completely unexplored, and surely has a vast wealth of resources useful to those on Earth, but it is
neutral, and no one nation can claim any of those resources. Ultimately, space is a playground for
science, and it can be difficult for the average American (who is not employed in a space technology
industry) to justify funding a venture that seems to be without

Economies of Scale
Introduction
The conditions proposed by the financial crisis and international markets have ended up affecting
the practice of economies and shared frames of reference on the nature of the problems. A minor
phenomenon in Bangladesh can have substantial impacts in New York or London. The scale and size
categories have become central to the analysis of what is happening. Institutional sizes are related to
risk externalities [Makridakis / Taleb, 2009]. The work produced [Haug, 2007; May, 2008] offer an
explanation of the consequences to take extreme risks in economies (extreme risk). Even
considering the risk corresponds to the capital (original) external losses can become outrageous.
Background
Studies reveal a context in which ... Show more content on Helpwriting.net ...
The crisis resulting from the excessive size of the banking sector has also contributed to increased
externality (negative) with costs experienced by most people.
In this regard Taleb / Tapiero [2009] consider that it is inefficient markets with negative externalities
to a considerable extent, even though they have ideal conditions of competition (perfect financial
markets). In any firm if negative externalities are not offset by positive externalities, or adequately
regulated, the risk of losses can become outrageous. In a New York Times (Sunday Business section,
October 4, 2009), Gretchen Morgension reference to research by Dean Baker and Travis McArthur,
described the effects of selective failures that allowed some privileged banks (large) were
"subsidized" with costs above $ 34 million annually.
Size is not the medicine when firms fail. For example, Fujian [2004], using a list of broken Japanese
companies in 1997 ([Bouchaud, 2003]) has drawn the failure of some firms regardless of size. When
business growth is supported by debt to risk exposed is superior because it threatens both the
creditor losses as the lender. Size growth combined with rising debt can lead to colossal failures. It's
like traveling with suicide pilots that guide aircraft dynamited. By taking unsustainable growth
strategies with negative externalities, people end up paying higher costs.
Networks and supply chains

Why Do Markets Fail?
Why do markets fail?
There are a number of reasons as to why markets fail and there are five different types of markets
that this can be brought down to. These include: Monopoly, Collusion, Asymmetric information,
Externalities and Public good and the free rider problem.
Monopoly
A monopoly can be seen as a form of market failure and this is because unlike in perfect
competition, firms with large market power have the ability to inflate their prices as they are usually
the 'price–makers'. The price at which something will be sold is usually determined by the
interaction of the supply and demand within the market.
A monopoly can either set the selling price or quantities – but not both. The reason for this is
because although they have ... Show more content on Helpwriting.net ...
The profit maximising quantity can be found where MR and MC intersect and in order to find out
what price the firm will sell their good / service at, you have you go up to the demand curve from
the profit maximising quantity and this tells us what price consumers are willing to pay once you
trace over from the demand curve to the price cost axis.
Now, in order to discover whether or not the firm makes any economic profit, you have to go follow
the output line up until the ATC curve (Which is the per unit cost), and once again draw back to the
price cost axis.
Asymmetric information
Asymmetric information is when one party has a superior knowledge of something compared to
another party. An example of this is a seller and a buyer as the seller would be the party with a
superior knowledge over the buyer. This could lead to market failure as the seller (Who has superior
knowledge) to manipulate the situation and take advantage of the buyer (Inferior knowledge).
Asymmetric information can lead to two main issues, and they are: Adverse Selection – Hidden
Information Moral Hazard – Hidden Action
To begin with there is adverse selection and this is form of market failure happens when products of
a different quality are sold at a single price due to asymmetric which inevitably results

Hedonistic Treadmill Research
Thousands of kilograms of plastic enter the oceans every minute. However, consumers do not see
the severity of their consumptive lifestyles. Instead, they go to their favorite coffee shop, order a
drink and then throw away the cup once they are done. Many do not look for recycling bins, and
almost all consumers do not think about where their garbage goes after they throw it away. A
majority of consumers simply think their old coffee cups fill in a landfill, but what many do not
know is that some people consume up to 11,000 pieces of plastic a year along with their seafood
(Walsh, Formanek, Loo and Phillips). But, if this consumption has such a large impact on lives and
the environment, why are consumer not more aware? The Hedonistic Treadmill, ... Show more
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According to a CNN report, halting the amount of plastic flowing into oceans would, "require and
incredible change in the daily behavior of 7 billion people" (Walsh et al.). The need for this extreme
measure did not happen overnight. This problem has grown over the course of many years, and only
continues to worsen as the Hedonistic Treadmill speeds up. This problem is so large, that it
constitutes as a market failure. Due to the impact of excessive plastic in the oceans, animals are
dying, and individuals are consuming large amounts of plastic each year. Thus, the speed of the
Hedonistic Treadmill is causing the market to fail due to its negative externalities on wildlife, the
environment and humans. However, the degree of the problem indicates that this failure, and its
solutions, have not been thoroughly

Market Failure Of The Pharmaceutical Industry
Market failure appears when there is a failure in allocation of goods and services. When the market
is unsuccessful, the government is called to intervene and correct the failure. Over the years,
government participation in the pharmaceutical market has been more wide–ranging than any other
good or service. With the government's ability to regulate, mandate, inform, finance and provide,
their intervention to overcome market failure can be beneficial for the economy. Market failure
plays a significant role in today's economy.
Pharmaceutical industries are a prime example. There are several possible reasons as to why and
how market failures might lead to such high prices for drugs. Information asymmetry is the most
critical form of ... Show more content on Helpwriting.net ...
Moreover, patients often have less knowledge than the prescriber does about the appropriateness of
the drug, where it can be very misinforming for the consumer. Lastly, drug efficacy is a problem in
all contexts. Since stakeholders are likely, less informed than manufacturers it causes both the
consumer and prescriber to depend on the manufacturer for information of the effectiveness of the
drug (Bennett, Quick, Velasquez, 2016).
Externalities, also viewed as the negative spillover effect, plays a role in market failures associated
with pharmaceuticals. In the pharmaceutical sector, externalities take place when consumers affect
the utilization of a drug's value. Externalities typically stop consumers from receiving cheaper costs
for drugs because they normally don't carry the complete costs of drug expenses. Negative
externalities induce a cycle of ongoing sales, more profits and more subsidies. Thus, if externalities
are left to be controlled by a market then the implications will lead to high pricing on products.
Recently, there had been a controversy over the rise in pharmaceutical costs involving the EpiPen in
the United States. The EpiPen, also known as adrenaline/epinephrine, is a widely used injection that
is used to treat allergic reactions. This generic drug has been available for many years. The EpiPen
controversy is a prime example of how monopoly

Advantages And Disadvantages Of An Economic System
An economic system is comprised of the various processes of organizing and motivating labour,
producing, distributing, and circulating of the fruits of human labour, including products and
services, consumer goods, machines, tools, and other technology used as inputs to future production,
and the infrastructure within and through which production, distribution, and circulation occurs.
Free or Market Economy
Economic system whereby buyers and sellers can make the deals they wish to make without any
interference, except by the forces of demand and supply.
All resources are owned by private individuals and private organizations
Advantages –The producers of favoured products receive a large income than producers of less
favoured products ... Show more content on Helpwriting.net ...
transfer of council homes to housing associations contracting out Rubbish collections to private co.
Advantages of PFI
Finances public projects without the need for the government to borrow funds or raises taxes.
Risk is transferred to the private provider
Introduces private sector qualities such as efficiency
Disadvantages
Method of financing is more expensive
There is a question on how much risk is transferred in the private sector.
Given the government record of bailing out those companies working for the govt.
Efficiency savings have been made at the expense of quality deterioration in the service. e.g.
hospital cleaning.
Externalities
An externality occurs when the costs or benefits of an economic action are not borne or received by
the instigator.
Externalities are therefore the spill over effects of production and consumption which affect society
as a whole rather than just the individual producer and consumer.
Railway may be good but the noise
Pricing policies based on social cost
Social Marginal benefit

Use indirect taxes and subsidies where private costs of production are below social costs and an
indirect tax could be imposed so that price is raised to reflect the true social cost of

An Economic Analysis Of Average Cost Of Screening Patients...
An Economic Analysis Comparing Average Cost of Screening Patients Using Remedy Social
Platform vs. Popular Preventive Health Check–up Programs Tanmay Gupta1, Dr. Purav Gandhi2
1Department of Business Analytics and Intelligence,
Indian Institute of Management, Bangalore tanmay.gemini@gmail.com 2Remedy Social (Healthark
Wellness Solutions LLP),
C–602, Tulip Citadel, Ambawadi, Ahmedabad, India drpuravgandhi@remedysocial.com Abstract:
We conducted an analysis using data collected from 140 patients through an online health
assessment questionnaire. All of the participants in study were screened for a risk of them having a
particular disease and were assigned a personalized diagnostic plan based on their risk–profile using
an algorithm. The average diagnostic cost came substantially lower than the tests recommended by
usual health preventive checkup plans. This could result in highly judicious utilization of healthcare
resources, money, and participant time without creating any significant compromise in screening
sensitivity.
Keywords: health economics, preventive health, screening, cost–impact analysis, preventive check–
ups
1. Introduction
Health is a major concern for the most of us. From elderly parents to newborn children, medication
and hospitalization play a substantial role while ensuring the health of a family. While age–related
ailments are almost inevitable, even the young generation of today is also not immune from health
issues, notably the

The Cost Of Social Norms
To summarize the articles; "What isn't for sale?" by Michael J. Sandel, and "The Cost of Social
Norms" by Dan Ariely, in the articles both authors discuss the relationship between markets and
society, and how they are intertwined even though they shouldn't which is partially caused by
market values entering society and affecting the regular norms of society causing money to be the
first thing on everybody's mind. The article "What isn't for sale?" By Michael J. Sandel talks about
how society is broken because markets have reached into places they don't necessarily belong and
influencing people's values by supplanting nonmarket norms with market values. They do so by
placing prices on things that normally aren't considered to be goods or services and couldn't even be
marketed, some examples given in the article are how people can pay an annual fee ranging from
$1,500 to $25,000, to gain access to their doctors personal cell phone, and same–day appointments;
another example is how people in Santa Anna, California, and other cities can actually pay $90 per
night in ... Show more content on Helpwriting.net ...
The article mentions how there used to be two worlds, one which was governed by market norms
and one which is warm and fuzzy, where people do each other favors for the good of it, with no need
to pay it back immediately or at all, a world where doing certain things provided people with a level
of satisfaction. In the world governed by market norms all exchanges are sharp, where all
transactions are for the sake of buying something with the only benefit being to gain something
monetary, but in today's society these worlds have collided and people are having a hard time
identifying what should be governed by market norms and what should be governed by social

Social Cost Of Cancer
Cancer is the second leading cause of death in the United States, exceeded only by heart disease. In
2011, more than 575,000 people died of cancer, and more than 1.5 million people had a diagnosis of
cancer. Millions more have been affected by cancer directly post diagnosis or indirectly by taking
care of a loved one that had been diagnosed with cancer. The actual cost of such a disease extends
well beyond the number of lives lost and new diagnoses each year. Cancer survivors, as well as their
family members, friends, and caregivers, may face physical, emotional, social, and spiritual
challenges as a result of their cancer diagnosis and treatment. The financial costs of cancer also are
overwhelming. According to the National Institutes of Health,

The True Cost Of Social Media Marketing
Everyone's heard the popular adage, "There's no such thing as a free lunch," meaning it's impossible
to get something for nothing. In the same way, there's no such thing as free social media. For years
we've heard that social media is 'free.' While its true that there are no costs associated to actually
setting up your social media accounts, using it in an effective way is far from being free. Social
media has caused the biggest cultural shift in the way we communicate since email. It has
revolutionized advertising, branding, and professional networking for businesses. More importantly,
it changed the way businesses interact with clients, customers, suppliers and others, giving new
access like never seen before. By understanding the costs involved, you will be able to appreciate
just how important investing in social networking can be for your business and why despite the
costs, we think you should invest. This list will explain the true cost of social media marketing! Cost
#1: Planning Your first step is similar to developing a marketing campaign – you need to come up
with an extensive plan and strategy. Don't join every network just to be 'on' social media – a
comprehensive strategy is a must! Every tweet, post, and message should have a resounding key
message and meaning. Next, evaluate your current staffing resources and determine if anyone has
time to take on the role, and ensure they have the capability, otherwise, get quotes to outsource.
Look for vendors that

Advantages And Disadvantages Of Market Failure
Introduction
The report introduces what market failure and Government is how government solve the problem
and explain market failures and their understanding. Knowledge in economics is also used in the
report such as public good, merit good, negative externalities and imperfect competition. And
analysis of the case: welfare policy.
The subject of this report is the market failure and the reasons and phenomena, and then is the case
study and the advantages and disadvantages. Market failure and the role of government in dealing
with them
Market failure
Market failure means situation in which an unregulated competitive market is inefficient because
prices fail to provide proper signals to consumers and producers.
As to the appearance of market failure, There is a monopoly or imperfect competition market makes
it not always has the most effective results. The externalities of market behavior may produce
negative spillover effect Market mechanism can't guarantee the supply of public goods. The
incompleteness or asymmetry of the market information causes the uncertainty in the economy. The
income distribution effects which caused by market can't accepted on political or moral. Public good
Public good means the nonexclusive and nontrivial good: The marginal cost of ... Show more
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From a social point of view, the efficient level of output is the level at which the price of the product
is equal to the marginal social cost of production: the marginal cost of production plus the marginal
external cost of dumping effluent. In our example, each unit of output results in some effluent being
dumped. Therefore, whether we are looking at one firm's pollution or the entire industries, the
economic inefficiency is the excess production that results in too much effluent being dumped in the
river. The source of the inefficiency is the incorrect pricing of the price. We can encourage the firm
to reduce emissions in three

Subsidy
Background.
What this paper endeavours to illustrate is that government funding is sometimes necessary for the
sustainable functioning of the economy and society from a holistic perspective. Firstly, let us define
the term "subsidy", and how this fits in an economic context. Oxford Dictionary defines "subsidy"
as follows: "a sum of money granted by the state or a public body to help an industry or business
keep the price of a commodity or service low" (OED Add. Ser. Vol. 3, 1997). Subsidising industry is
anathema to the concept of free trade as the very foundation of free trade, as we know, is built on the
cornerstone of "laissez–faire" capitalism and a limited role for government inasmuch as the market
is out of the sphere of ... Show more content on Helpwriting.net ...
This approach will provide for us a rounded view of how one symptom of a potential short–fall in
the market may lead to the development of more symptoms and impact the economy in a more
noticeable way.
If we loosely adopt the progression as depicted in the "vicious cycle" diagram on the left, and begin
from the initial action of the closure of SPC, there is an immediate impact on the market by way of
equity (i.e., Coca–Cola Amatil's share–holders are affected), companies relying on SPC will find it
difficult to adapt to the new business conditions as they will now have to adjust for the loss of a
significant client, strain will also be placed on competitors as they may need to facilitate for greater
supply in order to satisfy the growing demand (thus placing unprecedented pressure on the business
and potentially increasing their over–heads and capital outlay). Furthermore, certain communities
and townships may have flourished due to the inception or establishment of an industry or business
(in this context, the Shepparton, Victoria community where the canning facility is based) may now
experience difficulty and major adjustments that will effectively impact other areas of operations in
the market. It's almost impossible to quantify the level of impact on the market without an actuarial
investigation, but if we can assume that the local currency is affected, this may greatly affect other
businesses that rely on imports. When the purpose of business is to make

A Social Cost Benefit Analysis
WALNUTS AUSTRALIA PROJECT
A social Cost–Benefit analysis investigating the implement of a walnut plantation in Tasmania,
Australia
Semester 2 – 2013
ECON3220
BENEFIT–COST ANALYSIS FOR BUSINESS
Table of contents
Executive summary 3
I. Introduction 4
II. Methodology 5 a) Benefit–Cost Analysis (BCA) 5 b) Decision criteria 5 c) Key variables 6 d)
Assumptions 6
III. Analysis 7 1. Results summary 7 a) Project Analysis 7 b) Private Analysis 8 c) Efficiency
Analysis 8 d) Referent Group Analysis 8 2. Sensitivity and Risk Analysis 9 a) Discount rates 9 b)
Riparian buffer zone 10 c) Opportunity costs of land & labour 11 d) Walnut price 12 3. Joint
Analysis 13
Conclusions and Recommendations 14
EXECUTIVE SUMMARY
In ... Show more content on Helpwriting.net ...
The last sections concern about the uncertainties in multiple inputs. The project ends up to be
undeniably risky where in optimistic cases, the project is favourable to both the social and private
stakeholders; but in pessimistic cases, the detriment could become terribly worse. The ultimate
choice then depends on the attitude towards risk of the decision maker but generally, further
investigations on different aspects of the project should be implemented in order to make an
accurate decision.
I. INTRODUCTION
The report advises on the possibility of the project related to gains and losses from which many
parties may suffer such as the Australian government, Tasmanian government and labour, WAL, etc.
Those benefits and costs are particularly different among stakeholders.
Generally, the company wants to take advantage of an ideal climate and the currently developing
walnut industry to build up a plantation zone for walnut trees in eastern Tasmania which lasts for 20
years. This WAL's new project is expected to achieve its full capacity after four years operating and

to earn extra revenue from timber at the end of its life.
WAL supports the project as it can cover partly the total amount of Australia's import walnuts which
is as large as 4,000 tonnes of kernels per year. The Australian government prefers to take this into
account along with revenues from tax and subsidies spending in order to allow a subsidised

Monopoly Case Study
Chapter 15: Monopoly
Question 1: explain how the following industries practice price discrimination: movie theaters.
Different price is charge to different age range. Price is based to the buyers' age whether they are a
student, adult or elderly, most adult receives regular admission price while students and elderly
receives discount, this is because students and elderly are less likely not able to afford the full–price
of a movie ticket as they may not have income. Thus, this pricing strategy is used among the movie
theaters. Moreover, the price of the movie tickets varies on the time of purchase, movie theater may
charge less price in the morning/afternoon and charge more in the popular time such as evening or
Fridays.
Question 2: explain how the following industries practices price discrimination: airlines. ... Show
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(Hints: Graph the market failure and explain the problem. Then show how the government action
will change the situation.) Without Government Intervention The air pollution imposes a cost on
people who breathe in the air because the increase in air pollution will affect the health of the
people.In the presence of the pollution, the social cost of the pollution exceeds the private cost.due
to negative externality the social cost curve is above the supply curve, in which the vertical distance
between the curve of private cost and the social cost is the external cost.In the graph it can be seen
that the optimal quantity is smaller than the market quantity, where QMKT is the free–market and
OOpt is the efficient output, Thus, there is a welfare loss(A, B, C)
In order to improve economic efficiency, the government can consider imposing green tax on drivers
and factories to reduce the pollution that is being emitted. In the graph the supply curve(private cost)
will shift to the left resulting in the market equilibrium equals to the social

Externalities
Micro Economy
Externalities
Elizabeth Turra Brouwer
11–1175
9/08/201
An Externality is when costs or benefits of certain activities spill or fall into third parties that have
nothing to do with the initial situation in hand; its like a side effect or consequence of an activity that
affects other parties who did not choose to incur that cost or benefit.
Like you can see there can be either costs, or benefits that affect those third parties. When it is a cost
that is imposed on third parties, it is called a negative externality; negative externalities occur when
a decision or activity imposes costs on anyone that is not involved in the making of the decision,
that is if a decision imposes any kind of external cost, which are ... Show more content on
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When the government gets involved and taxes goods and services, it raises revenue for the
government, decreases the quantity of goods produced and consumed and therefore, both consumers
and the producer of the good will pay, splitting the costs of the tax and leveling up with society's.
Fees and regulations are similar to taxes. The government charge all firms the same fee and to set
the same standard for all firms. This will achieve the same level of emission reduction at a lower
cost for all firms and firms will have an incentive to reduce their emissions.
There are also solutions to a positive externality. That is to get the decision maker to internalize the
external effect. The difference with this and the negative externality is that with the negative
externality they would have to try to get the decision maker to see higher costs and with the positive
externality the government needs to somehow make the decision more appealing to the private
decision–maker.
A great example of this is getting a degree; it might not be as important or beneficial to you to get a
certain degree but the benefits that you could give the society with that degree can be significant, so
the government creates scholarships and incentives to motivate you and make it easier for you to get

an education and ultimately be part of the working society.
There are 3 ways of target the allocation problem of externalities, I talked about regulations,

The True Cost Of Social Media Marketing Essay
The True Cost Of Social Media Marketing Everyone's heard the popular adage, "There's no such
thing as a free lunch," meaning it's impossible to get something for nothing. In the same way, there's
no such thing as free social media. For years we've heard that social media is 'free.' While its true
that there are no costs associated to actually setting up your social media accounts, using it in an
effective way is far from being free. Social media has caused the biggest cultural shift in the way we
communicate since email. It has revolutionized advertising, branding, and professional networking
for businesses. More importantly, it changed the way businesses interact with clients, customers,
suppliers and others, giving new access like never seen before. By understanding the costs involved,
you will be able to appreciate just how important investing in social networking can be for your
business and why despite the costs, we think you should invest. This list will explain the true cost of
social media marketing! Cost #1: Planning Your first step is similar to developing a marketing
campaign – you need to come up with an extensive plan and strategy. Don't join every network just
to be 'on' social media – a comprehensive strategy is a must! Every tweet, post, and message should
have a resounding key message and meaning. Next, evaluate your current staffing resources and
determine if anyone has time to take on the role, and ensure they have the capability, otherwise, get

Social Cost Benefit Analysis
INTRODUCTION
What is Social Cost Benefit Analysis?
Cost–benefit analysis is a process for evaluating the merits of a particular project or course of action
in a systematic and rigorous way. Social cost–benefit analysis refers to cases where the project has a
broad impact across society {and, as such, is usually carried out by the government. While the cost
and benefits may relate to goods and services that have a simple and transparent measure in a
convenient unit (e.g. their price in money), this is frequently not so, especially in the social case. It
should therefore be emphasized that the costs and benefits considered by (social) `cost–benefit'
analysis are not limited to easily quantifiable changes in material ... Show more content on
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Their presence and their social background affect the social structure and mode of life at the
destination. Tourists are in turn affected by the experiences and often carry back home with them
new habits and new outlook on life.
Tourism has an educational significance. In the wider sense it has the altogether beneficial effect
which contact between people of different races and nationalities can bring about. In a narrow sense
much tourist activity takes the form of study trips and attendance at courses and conferences with
specified educational aims in view.
Tourism is often accompanied by cultural exchange and by cultural enrichment of those who travel
as well as those at the receiving end. The cultural factors that may attract tourists to a particular
destination are architecture, historical monuments and birthplaces of famous people. These are some
of the places most visited by the tourists. Festivals and exhibition rely heavily to visitor traffic as
their audience.
Tourism can be classified into:
a. Tourists visit places for recreational purposes. Such tourists spots are usually hill stations, beaches
etc, such tourists like to get away from the daily grind of life and freshen themselves.
b. CULTURAL TOURISM:
Such type of tourist satisfies the cultural curiosity of the tourist. Such tourist spots include ancient
monuments, places of historical and religious importance etc

Economics Essay Telephone Masts
Using the information in the data and your own economic knowledge, evaluate the economic case
for and against governments attempting to influence how mobile phones are manufactured and used.
(25)
The government should intervene in the mobile phone market to correct market failure due to the
presence of negative externalities.
Negative externalities are detrimental third–party effects caused by the production and/or
consumption of a good. A public good is a good provided free of charge to the consumer, by the
government. A public good is non–excludable and non–rivalrous. A merit good is a good that gives
positive externalities upon production and/or consumption. A merit good is non–excludable, yet
rivalrous.
The negative ... Show more content on Helpwriting.net ...
Therefore, the government should intervene to correct imperfect knowledge and decrease demand
for mobile phones.
Imperfect knowledge occurs when either the consumer or the producer know more than the other
about the externalities that occur due to the production or consumption of a good. A government can
use persuasion techniques to correct imperfect knowledge on the part of the consumer. Ways in
which the government can do this include educational advertising and changes to the national
curriculum to impart views the government deems will correct imperfect knowledge.
It is argued that the production of mobile–phones exerts negative externalities on the Asian
employees of the mobile–phone (Extract E, Line 16). An example of a negative externality on the
Asian workers is that of low–wages paid by Western firms to employees in poorer, foreign countries.
If the government's policy of persuasion was successful, demand for mobile–phones produced by
firms that incur low costs by paying lower wages should decrease (See Figure 2). This would
decrease the quantity consumed of low–cost mobile phones, and reduce the negative externality of
an inequality in the distribution of wealth and incomes, present in the production of low–cost mobile
phones.
If persuasion was successful, it would also provide incentive to firms that produce mobile–phones to
increase wages and lower negative externalities, as demand would be higher in the market for
mobile phones produced with

Social Cost Evaluation (NSFAD)
Goncalves provides the most complete social cost evaluation of the NSFAD of any of my sources.
Furthermore, a social cost evaluation is best way to measure the repercussions of the policy on
Portuguese society because it is congruent with other scholarship on social cost evaluations dealing
with substances similar to illicit drugs such as tobacco and alcohol. However, it is not without it's
flaws, as pointed out by other scholarship. As previously mentioned, from 2001 through 2005 the
number of drug citations fell, reducing the overall social cost of drug use. Goncalves also provides
that when drug citations returned to pre–NSFAD levels from 2005–2010 the associated social costs
were still reduced compared to pre–NSFAD social costs (205). These findings as a whole are
misleading for ... Show more content on Helpwriting.net ...
Next, as previously proven, policing had a negative cost shift overall due to the NSFAD calling for
more funding to go to drug trafficking policing. Local policing costs have not significantly changed,
though, meaning that the NSFAD did not augment the amount of police interaction with drug users.
Taking into account this information it can be claimed that in terms of the social cost, or the
taxpayer burden, the NSFAD has been a mixed bag. What can be positively asserted is that both
prison costs and the lost income/productivity of the drug offend has been significantly reduced due
to the introduction of decriminalization and CTD's. Taking into account all four social cost
categories identified by Goncalves as well as the their respective limitations and caveats, it can not
be confidently be claimed that the overall social costs of drug use following the implementation of
the NSFAD were decreased, rather success in reducing negative social repercussions should be
considered on a category by category

The Economic And Social Cost Of Illiteracy
The World Literacy Foundation released a report on illiteracy in 2012 sharing this devastating news,
"Shockingly, more than 796 million people in the world cannot read or write. About 67 million
children do not have access to a primary school education and another 72 million miss out on
secondary school education" (Melbourne, "The Economic & Social Cost of Illiteracy"). Complete
illiteracy is defined as, "a person who cannot read or write at all" (Melbourne, "The Economic &
Social Cost of Illiteracy"). However, there is another kind of illiteracy. This illiteracy is commonly
known as functional illiteracy. Function illiteracy, "means an individual may have basic reading,
writing and numerical skills but cannot apply them to accomplish tasks that are necessary to make
informed choices and participate fully in everyday life" (Melbourne, "The Economic & Social Cost
of Illiteracy"). Illiteracy brings multiple negative effects to an individual and his or her family. The
effects of illiteracy include: life threatening health issues, lower incomes and inability to succeed in
his or her career, and it increases crime rates. First, illiteracy carries life threatening health issues. If
someone is illiterate, he or she will be unable to comprehend medical records and assessments.
Thus, never fully understanding their diagnosis, or their treatment plan options. Erin N. Marcus,
M.D. writes, "There is also a growing body of research on health literacy, the ability to comprehend
and use

How Does Tobacco Tax Increase In Inelastic Demand?
Tobacco tax increase urged by parliamentary group Tobacco is a demerit good, where social costs of
consumption are greater than private costs to the individual i.e. negative externalities. Negative
externalities of consumption produced make the marginal social benefits in each case less than the
marginal private benefits. The private utility is diminished by the negative utility suffered by the
third party. Smokers have some private benefits of smoking, but they are creating external costs for
other people. The costs to other people (second–hand smokers) are significant and include a variety
of illnesses. Consumers, because of the free market would maximize private benefit to consume at
MSC=MPB. Cigarettes would be over–consumed, because ... Show more content on
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Government could provide education about the dangers of smoking and also fund negative
advertising in order to reduce demand for cigarettes. The revenue from tax imposing could be used
(£100m). There is no guarantee of effectiveness of education and advertising in terms of reducing
cigarette consumption, but the reduction in consumption would be larger with both tax + health
campaign. Nevertheless, using the tax alone to lessen cigarette consumption may not be sufficient as
smokers will always look for substitutes to their vice. The ban on smoking in public places has cut
the external costs borne by non–smokers. The warnings on cigarette packets have changed some
public perceptions. People are not the best judges of their own welfare, so the government
intervenes to discourage the production and consumption of demerit goods (cigarettes in this case)–
for example age limits for smoking. Advertising ban would be also useful, packaging shouldn't be
attractive for people, cigarettes should be hidden from the view of a consumer, warnings should be
everywhere and more influencing. Also it would be good to ban cigarette consumption in pubs,
restaurants, clubs and in cars with children. I think that increasing the price of cigarettes is a quite
effective policy tool for reducing smoking participation and consumption among youth, young
adults and persons of low socioeconomic status. Higher cigarette

Essay On Greenhouse Gases
Emissions of greenhouse gases, especially carbon dioxide, are among the major threats to
sustainability. The damages they cause to the environment, represent serious external costs to
society i.e. a negative externality. The impact of these emissions does not directly fall on those who
conduct the production activities responsible for the emissions but on the entire society, especially
the future generations. Diagrammatically, this situation can be represented by a marginal social cost
(MSC) higher than the marginal private cost (MPC), figure 1. Meaning that the costs of production
of the polluting firms are less than the costs that spill over onto the society due to polluted air,
consequences for the health etc..Thus if the market forces ... Show more content on Helpwriting.net
...
As reported by the article carbon taxes are "one of the simplest, market–friendly way of driving with
climate change". They have in fact numerous advantages. First of all, they bring a consistent
government revenue which can be spent to subsidies renewable sources of energy. Secondly, these
taxes make the energy prices more predictable, which will increase the level of business confidence
because firms can now planning their future investments with more security. Finally, they are not
subjected to corruption, since they cannot be manipulated like the cap and trade system. On the
other hand they may be too low, resulting in less incentive for the producers to use other form of
energy, since is more convenient for them just to pay the tax.Moreover, this could mean a rise in
unemployment since the output will decrease and therefore firms will reduce the workforce.
Furthermore, the tax will not make a compelling contribution because Bangladesh is a small
producer of carbon dioxide, meaning that it will not make a significant contribution to contrast the
climate change, which is a global phenomenon. Finally, as stated in the article there is the danger
that the burden of the tax will be passed to the consumers, putting a greater financial pressure on the
lower income households.
An alternative for government is to set instead a cap and trade system, which is a system in which
permits to pollute are

The Problem Of Social Cost
In 1960 Ronald Coase published an essay called, "The Problem of Social Cost". In this essay he
discussed many things that have made it one of the most quoted essays in economic and law
arguments. However, the main reason for this popularity was his proposition of a theory that has
since been called the Coase Theorem which states that "if trade in an externality is possible and
there are no transaction cost, bargaining will lead to an efficient outcome regardless of the initial
allocation of property rights." If someone has never heard or studied economics before they would
probably very confused by that statement, so the best way to explain this concept is through an
example. To start off, we can look at Professor Sean Mullholland's example from his video on
negative externality and Coase Theorem. In the video he uses the example of a farm owner and
fishermen who represent the actual fishermen, the land owners, and the recreationist. Now the farm
owner's farm is on a stream which flows into a lake which the fishermen use. When the farmer is
planting his crops he has to use a fertilizer that doesn't fully stay on the land and some of it flows
into the stream thus flowing into the lake. With all of the excess fertilizer in the lake a large amount
of the fish population is exposed to the fertilizer which has chemicals that will kill them. This causes
a very big and obvious problem for the fishermen, so then there are two routes that this can go
down. One route is

Social Cost Of War Analysis
Americas Cost of Wars Abroad and domestic
Clark, George. "The Human and Social Costs of War." Enviroment 50.2 (2008): 3. Academic Search
Premier. Web. 22 Apr. 2016.
The article describes the different forms of casualties in war; as well as, the civilian casualties of
war after soldiers come home from war. The human cost of war does not stay on the battle field; it
comes home to the soldiers' wives and their children. The four thousand soldiers killed in Iraq, and
Afghanistan is a small fraction, compared to soldiers' suicides and imprisonment of soldiers killing
their wives. The war is the outcome of casualties of war torn countries; as a result, the Iraq people,
and afghan civilians are being abused by American soldiers. The article fits ... Show more content
on Helpwriting.net ...
The American people will not be able to see the true cost in money spent on future conflicts.
Congress has taken total advantage in implementing the new laws by propagating eight hundred
billion dollars on the terrorist problem. The law was generated to hide access by the public, and
spend the money anyway they wanted. The congress falls back on the liberty of this nation as their
excuse in allocating the funds needed for the military spending.
The article fits into the writing as a tool in how tax payer's money is being allocated for war. The
article is straight forward in the legitimacy as well as the writer's view is not biased but factual. The
source is directed at the cost of the war and this fits the topic of the writing, and how they paid for
the war; the article accesses the cost of war and the hidden price tag hidden in supplemental
appropriations. The source picked, fits the argument of the writers view toward war.
The article is a strong indicator toward the subject of the cost of war, and the distrust in government
by the people. The source opened new debates on the laws implemented behind the people's back to
fund unfunded wars. In the article, this opens more questions on the funding of wars and the
consequences in hiding the true cost of

Economics
what are externalities?
Externalities are common in virtually every area of economic activity. They are defined as third
party (or spill–over) effects arising from the production and/or consumption of goods and services
for which no appropriate compensation is paid.
Externalities can cause market failure if the price mechanism does not take into account the
fullsocial costs and social benefits of production and consumption.
The study of externalities by economists has become extensive in recent years – not least because of
concerns about the link between the economy and the environment.
PRIVATE AND SOCIAL COSTS
Externalities create a divergence between the private and social costs of production.
Social cost includes all the costs of ... Show more content on Helpwriting.net ...
If we assume that the producer is interested in maximising profits – then they will only take into
account the private costs and private benefits arising from their supply of the product. We can see
from the diagram below that the profit–maximising level of output is at Q1. However the socially
efficient level of production would consider the external costs too. The social optimum output level
is lower at Q2. This leads to the private optimum output being greater than the social optimum level
of production. The producer creating the externality does not take the effects of externalities into
their own calculations. We assume that producers are only concerned with their own self interest.
In the diagram above, the private optimum output is when where private marginal benefit = private
marginal cost, giving an output of Q1. For society as a whole though the social optimum is where
social marginal benefit = social marginal cost at output Q2.The failure to take into account the
negative externality effects is an example of market failure.
NEGATIVE CONSUMPTION EXTERNALITIES
Consumers can create externalities when they purchase and consume goods and services. o Pollution
from cars and motorbikes o Litter on streets and in public places o Noise pollution from using car
stereos or ghetto–blasters o Negative externalities created by smoking and alcohol abuse o
Externalities created through the mis–treatment of animals o Vandalism of public property
o

Outcome of Banning Smoking in Public Areas
This article talks about how the number of premature births and severe childhood asthma problems
has dropped by after smoking was banned in public places. Researchers from the University of
Maastricht and the University of Edinburgh studied 250,000 hospital visits and more than 2.5
million births for asthma attacks in children. It was discovered that "preterm births and hospital
attendance for asthma has fallen by 10% " especially in areas where smoking is banned.
Though banning smoking at in public places would possibly have a negative effect, because people
may start to smoke more at home. However the study provides proof that banning smoking in public
areas has created a positive impact on child health. Moreover, it was found that this law has created
public heal benefits for perinatal and child birth and it "provides strong support for the World Health
Organizaion" in order to make smoke–free areas in more states and countries. The study looked at
how anti–smoking laws affect the health of the children that live in those regions.
It was found that smoke–free public environments such as restaurants, workplace and bars "protect
adults from the dangers of passive smoking". Also they discovered that there was a 5% decline in
children that were born very small for their age after they introduced the smoke–free laws. Exactly
40% of children throughout the world are exposed to second–hand smoking on a regular basis,
which causes respiratory disease and sever asthma problems

The Problem Of Social Cost
The Problem of Social Cost The Problem of Social Cost by R.H. Coast is an article examining the
economic problem of externalities. The example of externality is a firm's smoke imposed negative
effects on neighbor properties. The standard economic analysis such of the economic situation is
generally defined in differences terms of private and social good followed by the treatment of Pigou
Economic Welfare. The standard economic analysis results in achieving most of the economists
desires to hold firms responsible for the harmful that caused to injury by the firm's smoke, or applies
tax on the firm to equivalent the money term of damage that caused, or even excludes the firm from
the residential area. Coast argues that such of an economic analysis is inappropriate because it incurs
unnecessary results or desires. The Reciprocal Nature of the problem The traditional analysis
obscure the nature choices to be made, avoid the harm to one party would conflict harm to another.
The traditional analysis tends to miss out the key features of externality that is reciprocal nature. The
reciprocal nature indicates that the externality is not simply result of one party's action, but rather
result of both parties' combine actions. Similarly, either party can prevent the damage. For instance,
Cattle damages crops of adjacent farmer, so cattle raiser can fence property or farmer leaves the land
uncultivated. Economic optimal is maximize the joint value of outputs of both parties by

Eco/365
What is an externality? Provide at least three examples. How does one of the examples you provided
affect the market outcome? What is the role of government in addressing the implications of an
externality you provided as an example? Is it possible that a government's solution to a market
failure would worsen the failure? Explain your answer.
Externality is defined as an effect of a decision on a third party not taken into account by the
decision maker. There are two types of externalities being positive and negative. Second hand
smoke would be a negative externality. The smoker does not take into account the smoke emitted
from their cigarette. Education would be considered a positive externality. When an individual is
educated, their ... Show more content on Helpwriting.net ...
In regards to Apple, if the government was to only offer incentives to Apple, there would be a
negative externality for other companies that offer similar products.
#Another Response
Externality can be either positive or negative. If one is building a plant to extract oil from the
ground, the positive externality is the added jobs for the community. However, the potential
pollution from the plant could be conceived as negative. The externality affect is when one does not
control the impact from another person or companies decision. Another positive externality is the
improvement of a workforce in an organization that employs local labor. Pollution is widely viewed
as the top negative externality.
Pollution is a major issue in many communities. It affects the local population and the number of
people moving to the area, in addition to the potential workforce. If externalities result in an unsafe
community, it will result in fewer residents and less economic growth. Government controls on
pollution is very effective if patrolled. Many regulations are not monitored, thus companies often
find ways to avoid the regulations. Government officials need to

The Failures Of Market Failure
Market failure, in economic terms, refers to a situation wherein the free market fails to efficiently
allocate the goods and services. Or in other words, during market failure, another conceivable
outcomes (non– Pareto optimal) exist wherein a market participant is found to be made better–off
without making anyone else worse–off (Francis Bator, 1958). The failures in market can be seen as
the scenarios in which the pursuit of pure self–interest of an individual leads to inefficient results as
per the societal point of view and bearing high chances of improvement. Basically, market failures
occur when the market lacks economic efficiency.
Market failures may occur due to a plenty of reasons including asymmetries in information,
externalities, monopoly, time inconsistent preferences, principal agent issues, public goods, or non–
competitive markets etc. Therefore the market failure often requires the intervention of supra–
national institutions and self–regulated governments and organizations in that particular market
(Joseph Stiglitz, 1989). Micro–economists are usually involved in the task of identifying potential
causes of market failure and suggesting appropriate corrective measures. An important role is played
by such an analysis in number of public policy studies and decision making. Historical records show
us that governmental interventions have various impacts on the economy of its country. However,
poorly implemented governmental attempts for correcting market failure

Economic and Social Costs of Inequality in Australia
Analyse the economic and social costs and benefits of inequality in distribution of income in
Australia. Income inequality describes the extent to which income is distributed unevenly among
residents of an area. High levels of inequality indicate that a small number of people receive most of
the total income, and that most people receive only a small share of the total. There are many
advantages and disadvantages associated with the inequitable distribution of income. Income
inequality can lead to an increase in the productive capacity of resources and so an increase in real
GDP per capita. Economic benefits are mainly derived from the incentive effects of inequality.
Firstly, inequality encourages the labour force to increase ... Show more content on Helpwriting.net
...
Class divisions can result in tensions between people and different regions. Wage disputes between
workers and employers in which workers try to improve their income levels are a common cause of
dispute. These divisions can sometimes lead to social and economic instability. As shown earlier,
inequality leads to poverty problems but the facts have not been explored. Australia has a very high
level of relative poverty with 12.2% of Australians living below the poverty line, defined as
receiving an income below 50% of the median income level. Poverty tends to trap families into a
vicious cycle of low incomes and limited economic opportunities. High poverty levels also tend to
be associated with increased levels of crime, suicide, disease and reduced life expectancy. As you
can see, there are many economic and social costs and benefits of inequality in the distribution of
income but in general, having high levels of income inequality is bad for an economy and
individuals so Australia has continually attempted to have relatively low levels of income

Social Cost
The Social Costs of Academic Success across Ethnic Groups is a study conducted by Thomas E.
Fuller–Rowell and Stacy N. Doan in 2010. The main intention behind this research was to explore
the long–term comparison between academic achievement and social acceptance across different
ethnic groups in a sample of adolescents. In order to find out the race/ethnicities as well as social
acceptance of the participants they conducted in–home interviews. In order to find the GPA, they
utilized self–reports. The results of this research show that social acceptance is positively correlated
with GPA. African Americans and Native Americans adolescents have a bigger social cost with
academic success than White adolescents do. These findings also suggested that students of
Mexican decent also show different social costs within their achievement.
This research article possessed many strengths. The authors did an exceptional job in including all
factors such as gender, SES, ethnicity, minority groups, single parent families, school and
neighborhood disadvantages in regards to its correlation with academic success. The authors also
did a good job in providing support on other studies in order to make their hypotheses more
credible. Another aspect of the research that I found to be a strength is the ... Show more content on
Helpwriting.net ...
Which are more prevalent under school circumstances where the distinction in social costs across
groups was found to be most obvious. I would also improve the language limitation by providing the
groups who spoke languages other than English to complete the self–reports in a familiar language
to them and the in home interviews with a translator. Overall, this research study was stimulating
that focused on a subject that is controversial because of it's focus on the social costs of academic
success across ethnic

The Pros And Cons Of Sugary Food
Sugar is a good ingredient for cooking, however, sugary foods can bring a lot of negative influences
to the human body, such as obesity, so this essay will introduce some knowledge about negative
externalities, government measures and the effects of excessive consumption of sugary foods.
Meanwhile, it will analyze and evaluate the effectiveness of the imposition of tax and compare it to
alternative solutions.
Externality is a kind of market failure that all allocation of goods and services is not efficient.
Externalities is effects of activities on outside third parties, which is also called "Spillover Effect". It
will occur when there is a difference between social costs or benefits and private costs or benefits.
Positive externality represents by benefits, so if social benefit is greater than private benefits, there
will be a positive externality. For instance, inoculation and education. In contrast, negative
externality represents by the costs, so if social costs are greater than private costs, there will be a
negative externality. For instance, pollution, traffic congestion and obesity. ... Show more content on
Helpwriting.net ...
Regulation means that the government sets rules to make it more difficult for firms to produce, for
example, quantity restriction. If companies do not follow the regulation, they have to pay penalty.
Permits means that the government can set a maximum allowed amount, and then it will issue
permits to each firm. Firms can gain by reducing production or using cleaner methods to reduce
pollution because permits can be traded and firms cannot exceed permitted amount. Tax is also a
good way to remedy negative externalities. The government use tax to control the price, meanwhile
to reduce the consumption. In most cases, tax rates of those externalities should equal to the value of
the externality. (Alain Anderton.,

Benefit Cost Analysis Of Social Programs. Child, Youth,
BENEFIT COST ANALYSIS OF SOCIAL PROGRAMS
CHILD, YOUTH, AND FAMILY PROGRAMS
MAYA BOZKURT
SPRING 2017
Abstract
This paper examines the benefit cost analyses of youth, children, and family programs by means of
investigating previous studies in the area and comparing benefit cost analyses of different programs.
Benefit cost analysis (BCA) of these programs differ from BCA of infrastructure, health or
environmental programs due to the mental and intangible consequences. This paper addresses the
main principles applied in BCA and procedural steps. It also compares BCA of programs conducted
by nonprofit and government organizations. The strength and challenges of BCAs in family, child
and youth programs are also assessed. I reached to a ... Show more content on Helpwriting.net ...
For the public programs, BCA is recommended by legislators. According to Circular A–94, for
formal assessments of federal programs BCA is recommended since it is a more comprehensive
method than the cost–effectiveness analysis (Circular A–94, 2016, pg.1)
Social programs consist of many different kind of programs including general welfare, education,
housing, senior programs, social security benefits, health, youth, children, family, etc. Since social
programs refer to a very broad category, I limited my study to youth, child, and family programs. In
this paper I will explain the literature review I made on BCA applications of youth, children, and
family programs. In the first part of my study, I will give some background information about BCA
of such programs. In the latter part, I will explain how BCA is applied to those programs. At the
third part of my paper, I will give examples from BCA done before and will compare these analyses.
The next part of my paper will consist of challenges that researchers face during the BCA of youth,
child, and family programs and recommendations from some different studies. Finally, I will
summarize my findings.
2. Background
Decision makers attach particular importance to BCA for the choices between the youth, child, and
family programs as time passes (Karoly,2008, pg.iii). Implementing social programs more

A New Social Contract for Health Care Insurance Costs Essay
A New Social Contract for Health Care Insurance Costs The new social contract between the health
care system and employers, patients, and the government has given everyone involved some
breathing room. They have provided a clearer picture of the costs of health care; however, it is
evident that there is still work to be done regarding the transparency of complete and exact costs.
For example; all hospitals have a price list called the chargemaster that includes nearly 20,000
health care procedures. The prices on this list are the prices that patients will most likely see on their
bills; however, the terms are not standardized and many are bundled services that make it difficult to
compare them with other institutions. It is obvious ... Show more content on Helpwriting.net ...
This would level out the premium costs a little better than premium charges being based on the
number of employees who work at a company. Flipping the script, I will now discuss my new social
contract between the citizenry and the state. I certainly believe that the state should have some
responsibility to help with health care costs; however, I also think citizens should take responsibility
for themselves as well. For example; people who are employed should pay their share of the
premium cost based on the amount they make per year, so if one employee brings home more than
another, they should pay a higher share of the amount of their premium. Moreover, an employee
making minimum wage should have some help from the state to pay part of their premium cost.
Also, each individual's last employer should continue to provide them with their same insurance
plan until they find new employment. As far as State health insurance coverage such as the
Medicaid and Medicare programs, they should continue to provide health coverage to the
underprivileged and the elderly. In brief summary, the New Social Contract effort is about
describing the problems we face, in this case, conflicts in the health care systems. Whether the cost
of health care is not clearly seen by patients, or the costs of health care insurance is too

Social Cost Mid-Terms
Social Cost Mid–term
1) I believe similar people in similar situations make different decisions regarding whether or not to
do violence due to various causes. One would be personal morals and values. When dealing with
similar people making different decisions pertaining to crime, I think of their ethical views. One
individual may have personal standards acknowledging right from wrong during their situation
while the other may not have or break that though of personal values. Another reason could be the
motivation behind the choice when being confronted with the decision. We may have an individual
take a realistic goal of working hard to obtain a goal by working towards the American dream –
working hard for what they want, being patient. While ... Show more content on Helpwriting.net ...
One would be the social cost of the war on drugs on the economy in a finical perspective. The
amount of money being spent and put into the war on drugs including on law enforcement comes
with a price. Creating new regulations, strategies, and team of specialized drug law enforcement, the
amount of money being spent can easily exceed set budgets. Another social cost is the lack of focus
on other social issues that suffer due to spending on the war on drugs. This means that there are less
programs and opportunities for issues such a health care, education, government assistance etc. that
effect citizens and their daily lives. Corruption could also be a social cost of policing on the war on
drugs. This refers to those in higher authorities in criminal institutions who are involved with the
financial gain of illicit activity and provide the resources for organized criminal groups to develop.
This creates a larger problem being the issue of the drug war only expands through a system we trust
to protect us, at the expense of tax payers. As policing strategies increase so do the methods used, in
order to reduce risk of serious crimes law enforcement will target minor crimes which result in
increase of prison populations and a shift in the ethics and procedures used to maintain a drug free
environment. The social costs of policing the drug war can violate human rights, cause racial
injustice, and limited

Social Costs Of Smoking Cigarettes
Introduction
The overall economic costs of smoking cigarettes has become somewhat of an epidemic in society
for a variety of reasons. It includes numerous private and social costs. The private cost to smokers
goes far beyond the price of cigarettes alone. Smokers also pay with their health, life, and finances.
Alongside the great cost to smokers, they enjoy benefits to the same degree. The total cost of
smoking not only effects smokers, but society as well. The externalities from smoking are both
negative and positive. Society bears the burden of the negative externalities, or social costs, both
physically and monetarily. The positive externalities, or social benefits, play a significant economic
role in society. The tobacco ... Show more content on Helpwriting.net ...
The average smoker's overall quality of life is jeopardized because of the health ramifications. Many
long–time smokers have lower endurance than non–smokers which results in frequent shortness of
breath. They are also more prone to common illnesses due to their lowered immune system. Finally,
they are at a high risk for disease and premature death. Although these costs are high, smokers do
reap some benefit by making the choice to smoke.
If the private cost of smoking to smokers is so high then why smoke? "According to economic
theory, if smokers are fully informed, rational and under no duress, it can be assumed that the
benefits of smoking to them are at least equal to the costs which they themselves bear."(Collins;
Lapsley) Otherwise, they would not smoke. The benefits to the smoker are both physical and
psychological.
Cigarettes are highly addictive. Reinforcement and withdrawal are the two key factors that establish
cigarette smoking as an addictive behavior. As a learned response to consumption, reinforcement
leads smokers into becoming dependent on the rewards or benefits they reap from smoking. The
nicotine in cigarettes creates a physical dependence while the act of lighting up and smoking creates
a psychological dependence. A smoker benefits from the positive reinforcement that comes from
both the physical and psychological effects of smoking. Smokers are also influenced by

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