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Sustainable Development Goals and Global Impact

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Sustainable Development Goals and Global Impact

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Questions and Answers

What is the condition for Pareto efficiency in economics?

$MC = S$

$MRS_a = MRS_b$ (correct)

$MRT = MRTS$

$MRTS_x = MRTS_y$

What is the main focus of Sustainable Development Goals (SDGs)?

Reducing local problems only

Addressing large global issues (correct)

Maximizing profits in agriculture

Minimizing international agreements

What does the intersection of supply and demand curves in economics represent?

Total welfare

Maximum cost and minimum profit

Pareto efficiency

Optimal quantity and price ($Q^*$ and $P^*$) (correct)

In economics, what does MRTS stand for?

Marginal Rate of Technical Substitution Signup and view all the answers

What is one example of a Sustainable Development Goal mentioned in the text?

Agriculture in NL and its impact on nature Signup and view all the answers

What concept represents the point where marginal cost equals marginal benefit in economics?

Equilibrium Signup and view all the answers

What is the main contribution of economics according to the text?

Determining optimal solutions given the goal Signup and view all the answers

Which of the following is a requirement for an efficient market outcome?

Perfectly competitive markets Signup and view all the answers

What solution does Coase propose for addressing externalities?

Create property rights and let the market find optimal solutions through negotiation Signup and view all the answers

Why might taxation be considered a more effective solution than Coase's proposal?

It guarantees equal costs for all firms and addresses price elasticity Signup and view all the answers

What is a potential drawback of using taxation as a solution to address externalities?

It may lead to production shifts to lower regulated countries Signup and view all the answers

Apart from taxation, which other instrument can be used to address externalities?

Command and control regulations Signup and view all the answers

What is a characteristic of Anglo-Saxon Capitalism according to the text?

Profit-minded with focus on short-term profit Signup and view all the answers

What does 'Doughnut Economics' by Kate Raworth emphasize?

The need for long-term thinking and consideration of all stakeholders Signup and view all the answers

According to Ray Dalio, what historical factor can harm economic growth?

High levels of inequality Signup and view all the answers

What does 'Stakeholder Capitalism' primarily focus on?

Long-term thinking and consideration of all stakeholders Signup and view all the answers

What aspect does 'Sustainability Reporting' primarily aim to address?

'Minimum harm' approach in business activities Signup and view all the answers