Full Cost Pricing Is A Problem Because

Full-Cost Pricing
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Full-Cost Pricing
Full-cost pricing refers to a principle of sustainability where the environmental costs of a specific product are included in the pricing of the commodity. In particular, the good or service offered is environmentally friendly since the production process does not pollute the environment. As learned in chapter one, sustainability entails the preservation of biodiversity, energy, and nutrient cycling (Miller & Spoolman, 2018). One of the environmental issues that are caused by an industry that does not adhere to full-cost pricing is air pollution from mining and industrial manufacturing. In most cases, manufacturers do not pay close attention to greenhouse gases emitted during the production process. In that light, they came up with products and set their prices without considering the harm they are causing to the surroundings. Consequently, air pollution is a significant problem, which has contributed to global warming.
The first thing that can be done to ensure that industries include external costs when pricing their products is the implementat...