ECONOMICS (CBSE/UGC NET)

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ECONOMICS

MARKET FAILURES

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
When a beekeeper places his hives of bees in an orchard so that the bees can gather nectar to produce honey, the bees pollinate the orchard, which increases the yield of fruit. This benefits ____
A
only the beekeeper.
B
the beekeeper, but it creates a negative externality because the bees are a hazard to the orchard owner.
C
only the owner of the orchard.
D
both the beekeeper and the orchard owner.
Explanation: 

Detailed explanation-1: -Answer and Explanation: The correct answer is D) positive externalities that benefit both the beekeeper and the owner of the fields of fruit and grain.

Detailed explanation-2: -The process of beekeeping is known as Apiculture. It is the maintenance of bee colonies which are common man-made hives. Bees are kept in the bee yard or apiary. The hives of The bee producers beeswax, bee pollen, royal jelly, and flower pollen.

Detailed explanation-3: -The science and art of managing honey bees called apiculture or beekeeping is a centuries-old tradition.

Detailed explanation-4: -Externalities occur when a grower rents out a location from which bees can access to her neighbor’s nectar. Underinvestment in citrus trees can occur when the value of the trees’ nectar is captured from groves other than the ones operated by the growers that receives the fees.

Detailed explanation-5: -Choose the location. Bees need four things. Prepare the location. Install the bees. Feed the bees. Inspect the hives inside and out. Check regularly for pests and diseases. Expand the hive when necessary. PEST CONTROL. 28-May-2015

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