Free «Short Answer Questions» Essay Sample

1. Explain what is meant by the hidden costs of a product.

Hidden costs are the point at which the full cost of proprietorship is excluded in the price tag, due to the extraand open door costs, inconspicuous issues, and unintended outcomes (Savall & Zardet, 2008). Hidden costs can make item slower evaluated, simple to acquire or a decent esteem. In any case, the long-term price can be costly or harmful to a person and a community from purchasing products (Savall & Zardet, 2008).

2. How might a shift from a material-flow economy to a service-flow economy change the kinds of products that are produced?

Service-flow economy includes transport services, culture, management, commerce, medicine, and education. Branches of the economy that produce a variety of services constitute a complex infrastructure (Hess, 2016). However, the service is a special product, and it is not consumed in the form of things. The composition of the material economy includes metallurgy, chemical industry, machinery, and oil industries. In contrast, the service sector usually does not have a materialized form. Besides, the number of services are represented by computer programs, films, and various documents (Hess, 2016). Unlike a material-flow economy, a service-flow one is in charge of production and consumption simultaneously, but the output cannot be stored. In this regard, this process requires the presence of overseas direct service providers or foreign consumers in the country of the production services. Unlike operations with goods, a service is not subject to customs control. Services can provide production of capital-intensive, knowledge-intensive, an industrial character or personal needs. However, not all types of services are opposed to products that are suitable for a wide involvement in the international traffic (Hess, 2016).

3. Do you think governments should continue to subsidize mining on public lands? Why or why not?

One of the central problems of ownership of the subsoil and extracted minerals is the possession of the proceeds of the subsoil use, in particular, the ownership of the mining rent (Miller & Spoolman, 2008). Forms of usage characterize these relations, ownership, and distribution of deposits that are also the ways of appropriation and utilization of the mineral resources, mechanisms of formation and assignment of the mining rent (Miller & Spoolman, 2008). The types of ownership have different effects on the conditions and results of operations of these companies (Miller & Spoolman, 2008). I believe that the private owner is not in a position to engage in a geological exploration of mineral resources, create a well-developed social and production infrastructure in order to maximize the extraction of rent. In contrast, a government has a serious financial support and thus, the ability to establish the mining rent. Therefore, its subsidization by the government is a correct decision and a proper way of development.

4. Give two ways that you as an individual can influence environmental policy.

Firstly, a person can support the environmental movement, socio-political phenomenon, which arises because of the interaction of all social groups that are interested in the preservation of nature for future generations (Rinfret & Pautz, 2014). The goals, objectives, and methods of the environmental movement are in the creation of organizations that will struggle for the protection of the living world. (Rinfret & Pautz, 2014). Moreover, an individual can join national institutions and inform the public about the problems of the environment. Finally, the individual may enter or maintain the ecological party that sets the goal in the lobbying of environmental interests of the population (Rinfret & Pautz, 2014).

5. Explain two components of a sustainability revolution and why you think they are important.

In fact, sustainability revolution became the place for a huge number of people all over the world who are making the quickest and most significant social changes of our time (Edwards, 2005). Furthermore, sustainability has turned into a popular expression in the most recent decade; however, its full importance is rising up out of a scope of various segments. The significant element of this revolution is the business of technology that includes nanotechnologies and network domination (Edwards, 2005). Actually, these elements will be profound in the following years. Besides, the new market understanding became the next essential feature of the revolution. Humanity will continue to advance the processes of repairing, sharing, upgrading, and durability in the world market relations. Therefore, the core elements of sustainability revolution are the progressive scientific, business, and social components of the development (Edwards, 2005).