Answer to Question 1
The climate and the quality of the environment are considered public goods because no one can be excluded from consuming these goods, and one person's consumption of either good does not reduce the quantity that is available to others. This means that, because it can be costly to protect the environment, a single person or country has little incentive to do so.
A-head: ECONOMICS OF CLIMATE CHANGE
Concept: Public goods, tragedy of the commons
Answer to Question 2
A shortage arises at market prices below the equilibrium price. A shortage causes the price to rise, decreasing quantity demanded and increasing quantity supplied until the equilibrium price is attained.
Temperate forest geography and climate.
The twin method can be used to investigate genetic and environmental influences on the development o
Climate Classification
The Impact of Climate Change in the world
The ability of a community to cope, adapt to, and mitigate the accelerating impact of climate change