ECONOMICS (CBSE/UGC NET)

ECONOMICS

MARKET FAILURES

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Provision of Street-light by markets could lead to:
A
Undersupply of streetlights
B
Oversupply of streetlights
C
Optimal supply of streetlights
D
No supply of streetlights
Explanation: 

Detailed explanation-1: -The provision of street lighting requires an electricity supply and is associated with ongoing power costs. Solar panels may be considered as an alternative power supply. Adequate clearance must be provided to overhead lines. Low pressure sodium lamps may be used to reduce light pollution particularly in urban areas.

Detailed explanation-2: -1) without street light, many people afraid to darkness place for negative energies. 2) Especially women afraid to thief for her gold jewelleries. 3) There are always accident because there are on light on the road.

Detailed explanation-3: -The streetlight effect, or the drunkard’s search principle, is a type of observational bias that occurs when people only search for something where it is easiest to look.

Detailed explanation-4: -Main factors which we should pay attention to? Street lighting evaluation indicators include average road luminance Lav (road average illuminance, road minimum illuminance), brightness uniformity, longitudinal uniformity, glare, environmental ratio SR, Color Rendering Index, and visual inducement.

There is 1 question to complete.