ECONOMICS
COMPETITION AND MARKET STRUCTURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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There is a rise in retail business in the area.
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Additional employment is needed at the airport.
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There is an expected benefit for a third party not directly involved in the expansion project.
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The airport increases noise pollution in the area.
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Detailed explanation-1: -Possibly the most obvious form of negative externality incurred by airport activity, noise is an obvious and bothersome environmental impact that leads to a decrease in the well-being and quality of life of those living in the proximity of airport facilities, and even to serious health problems.
Detailed explanation-2: -The main externalities of air pollution include: Economic Costs. They include a wide range of externalities like damage to property, superstructures and infrastructure, and loss of productivity of people and crops.
Detailed explanation-3: -This can include: Emissions from aircraft and ground vehicles, as well as from power use in buildings, all contributing to climate change and local air quality issues. Noise from aircraft for local residents. Potential to damage local wildlife and habitats and water courses.
Detailed explanation-4: -Air pollution. Air pollution may be caused by factories, which release harmful gases to the atmosphere. Water pollution. Farm animal production.