1. Ask what your community can do to address the issue you have chosen. - My community believes that we should cut back on water usage. They believe we shouldn't water grass more than it absolutely needs to be. They also said that we can save water turning off the water while we brush our teeth, take shorter showers, and also by not taking as many baths.
2.What can you personally do? - I can personally just take shorter showers, turn off the water while brushing my teeth, and try my best to spread the word.
3.Are there multiple perspectives on the best way to address the problem? - Yes, many people believe that there are different ways to preserve water. Some believe that not taking showers at all will save water.
4.Which is does but it is not beneficial for the people around you having to smell you all day long. People also believe not watering there grass everyday saves water. Most people may only water their grass 1 or 2 times a week to conserve water.
5.What are the costs and benefits of your potential action plans? - The costs of my plans would be that I am depriving my self of a longer shower. I am also depriving my grass of the necessary water it needs to survive in order to save water. Benefits would be that you save money on your monthly water bill. Also you are conserving water and creating a better enviroment.
6.What are the externalities, both positive and negative, of your chosen solutions? The externalities include a water agreement which means we would get other peoples water water if we need it, but they can also take ours. Another would be a water heater which gets hot water faster but will have to pay more money for it. A final externality is water limit which will save water and everyone gets the same water but you may not get to use the amount of water for certain things you would normally like to.
1.Give three possible solutions to the economic issue you are investigating. -Possible solutions are a water agreementplaces, water heaters, or water limits.
2. Why would some people oppose the solutions you have chosen? -People may oppose a water agreement because they don't like the idea of having to share water and if both places run out then they won’t have any water. They may oppose water heaters because it will cost them more money, and they may oppose a water limit because they will need to prioritize what they can use their water on and how much they can use.
3.What positive or negative externalities does this issue present at each sector of the economy? -Government will be spending more
money. Households will also cost more. Business is getting more business. Rest of
World will get more water from sharing. Product Market is paid more money.
Factor Market won't get as much money if there isn't enough water.
Financial, the government will pay them for services.
4.What incentives do individuals, businesses, and government have to act on each possible solution? - They would have to think about pricing.
5.What are the externalities, both positive, and negative, that could result from each possible solution? -A water agreement would allow us get their water if we need it, but they can also take ours. A water heater will get hot water faster but will have to pay more money for it. A water limit will save water and also everyone gets the same amount of water but you may not get to use water for certain things or not be able to use as much.