ECONOMICS
MARKET FAILURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The natural environment in the UK is under threat from urbanisation as more and more new houses are built on unspoilt countryside. It has been estimated that by 2050 a fifth of England could be urbanised.From the passage above, it can be inferred that
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the natural environment is an economic resource.
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the opportunity cost of land is zero.
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the price of land for house building is lower than the price of land for farming.
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the private cost of urbanisation is greater than its social cost.
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Explanation:
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