ECS2606 Assignment 1 (100% COMPLETE ANSWERS) Semester 1 2025 (253465 ) - DUE 24 March 2025

Environmental Economics - ECS2606 Assignment 1 Semester 1 2025 (253465 ) - DUE 24 March 2025 ;100 % TRUSTED workings, Expert Solved, Explanations and Solutions. For assistance call or W.h.a.t.s.a.p.p us on ...(.+.2.5.4.7.7.9.5.4.0.1.3.2)........... Answer ALL the Questions Explain and diagrammatically illustrate the impact that the Covid-19 -pandemic induced restrictions on economic activities imposed in many countries across the world in 2020/21 had on the materials balance principle. ecs2604 [10] Explain with the aid of production possibility curves how your country could limit the production and consumption of future generations by current irresponsible consumption and production. [10] ecs2605 Make use of appropriate examples to explain and distinguish between opportunity costs and external costs. [10] ecs2602 Explain the difference between positive and normative economics and provide two examples in each case. [10] ecs2601 Draw two graphs to explain how the impact of inelastic and elastic demand curves will differ if environmental policies are enforced. [10] ecs2607 2. Explain and diagrammatically illustrate the impact that the Covid-19 -pandemic induced restrictions on economic activities imposed in CHINA in 2020/21 had on the equimarginal principle . [10] Explain how the following methods can be used to determine the willingness to pay for benefits: [25] i. Averting costs ii. Wage rates iii. Children’s health iv. House prices v. Intercity wage differentials 3. Discuss and diagrammatically illustrate the fundamental balance principle. [25] 4. There are three decentralised environmental policy measures that can be implemented in the case of environmental pollution. Discuss these measures in detail. [25] 5. Explain with the aid of production possibility curves how your country could limit the production and consumption of future generations by current irresponsible consumption and production. [10] 3. Make use of appropriate examples to explain and distinguish between opportunity costs and external costs. [10] 4. Explain the difference between positive and normative economics and provide two examples in each case. [10] 5. Draw two graphs to explain how the impact of inelastic and elastic demand curves will differ if environmental policies are enforced. [10] Answer ALL the Questions