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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Unit 5 Written Assignment

Unit 5 Written Assignment

Q In Unit 5, you are learning about negative externalities and environmental protection. One activity that qualifies for negative externalities is the poaching of animals in several countries throughout the world. You will analyze the topics of negative externalities and environmental protection by completing the learning journal. 1. Choose one of the approaches listed below on protecting elephants from poachers in African countries. A. The government sets up enormous national parks that have sufficient habitat for elephants to thrive and forbids all local people to enter the parks or to injure either the elephants or their habitat in any way. B. The government sets up national parks and designates ten villages around the park's edges as official tourist centers that become places where tourists can stay and bases for guided tours inside the national park. 2. Depending on the approach you have chosen (A or B), explain how the incentives will affect the local villagers, who are often very poor. 3. Which approach (A or B) seems more likely to help the elephant population? 4. Discuss the practice of poaching elephants and the need for environmental protection? 5. Explain how the practice of poaching elephants is a negative externality? Compose your paper using Microsoft Word or a Word compatible word processor (LibreOffice, Google Docs, etc.). Your paper must be 2 pages in length using 12-point Times New Roman font and include an introduction, body, and conclusion. You must also cite sources using APA format.

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Introduction- An externality is an economic concept that includes a cost or benefit which bear by the third party even if they are not involved in any transaction for any goods or services. An externality is generally two types. One is a negative externality and another is a positive externality. Negative externality refers to the cost which the third party needs to bear for the consumption of another one. On the other hand, the positive externality refers to the benefit that the third person gets due to the consumption of the goods or services by another one (Laffont, 1989). Answer 1- Different species of wildlife can be found in the African country.