Markets are not able to respond effectively to environmental issues because they cannot determine the value of the environment and its elements. It is not a part of the exchange or transaction and market systems were not designed to factor in environmental costs. Public policy is definitely a useful concept in understanding how the commons are managed in our society. It allows citizens to effectively understand the many different rules and regulations that exist in order to protect as well as conserve the environment. It places value upon …show more content…
5. What is the function of a political process? Why do people participate in this process? What is the task of a political system? What skills and abilities are necessary to function effectively in this process?
The function of a political process is to pursue the common interest of a community, which is separate from the collective private interests of individuals defined by markets. People participate in this process in order to achieve a specific goal or objective in order to affect change within society. The political system manages conflicts in terms of what should be done with respect to the environment or other issues and what should be accomplished. To function effectively, power, influence, and the abilities to compromise and negotiate are necessary.
6. What are public goods and services? How do these differ from private goods and services? Why can’t public goods and services be provided through market exchange? Give examples to support your answer.
Public goods and services are indivisible aspects of society that are created and provided in order to meet the demands of citizens whereas private goods and services can be distributed individually amongst consumers. A community owns them