Full-Cost Pricing. Identify and describe an environmental problem. (Essay Sample)
"Full-Cost Pricing" is one of the principles of sustainability described in your text. When all of the environmental costs of a product or service are not included in the price, environmental problems will result.
Identify and describe an environmental problem that is caused because an industry does not follow full-cost pricing. (2 points)
What could be done to make the industry include the external cost in the price of their product (2 points)
Make sure to answer two questions clearly.
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.
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