• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Explain how economic growth and the operation of a market economy impact on the global environment, and suggest ways in which action could be taken to limit this impact. √

Extracts from this document...


Christopher Neill Y312545X TMA 02 (part b) Explain how economic growth and the operation of a market economy impact on the global environment, and suggest ways in which action could be taken to limit this impact. v This essay is divided in two parts. In the first I will explain how economic growth and the operation of a market economy impact on the global environment. I will explain, using the main key theme of block 2 that nature and society are intertwined, that economic growth and economic markets interact with the environment, often unintentionally, and can lead to destruction of landscapes, pollution and exhaustion of common resources. To do this we need first to define economic growth and market economy. Economic growth is measured by GDP (gross domestic product) which measures the amount of goods or services produced by a person or country. The product of one year is compared to that of another so the growth of an economy may be measured. It can be measured as a country as a whole or per person and can go down as well[S1] as up. v A market economy is one in which resources (common or not) are distributed through exchange in markets. Also[S2] known as free market or free enterprise markets, the free being that business and consumers are free to decide what to produce or consume and what prices to set or to pay without intervention from the government. ...read more.


This is where 'Green Tax` or 'Green Subvention` are interesting as they encourage producers who despoil little and tax those who despoil a lot. A problem that occurs to me is how do you put a value on the environment? How much to tax[S12]? And maybe I'm being sceptical when[S13] I suggest that a big international company will have ready any number of lawyers and 'experts` who are prepared to demonstrate that the company is the most environmentally friendly company that has ever existed. Me personally I would like to see some type of shaming strategy, where companies are obliged to put on the package of a product, where and how it was produced and some sort of environmentally friendly star rating. OK v Christopher Neill Y312545X In this essay I have looked briefly at how a market economy works and what is economic growth, we have seen that externalities of a market economy are the unintentional consequences and that economic agents in market economy are very limited to prevent these externalities due to market pressure. I have also looked at how externalities affect people in the periphery of a market economy and while they do not affect the core, how externalities are often blamed on the 'natural` which helps some economic agents wriggle out of their responsibility. I have looked at the UK`s ecological footprint and possible ways to slow down environmental degradation. ...read more.


Comments In what you write you do identify several patterns that also appear in this page and summarise them in a thoughtful way. I think that you are certainly on the right track and that you would have done even better had focused even more on the relationship between environmental impacts and the level of national income in different countries. In general it is worth keeping in mind that when we comment on the data presented in a table what is of interest is to delineate any discernible pattern (since patterns may imply the existence of linkages or relationships). Thereafter, we are usually interested in the various "peaks"; they imply deviations from the norm that might merit some explanation. You also need to consider the reason behind the observed pattern (or deviation) and why not write these down even if your thought about them are tentative. [S1]Introduction-clear and to the point-good! [S2]Define what a market economy is - good! [S3]A clear expose' - good! [S4]An example given for purposes of illustration - OK! [S5]So, you know do kno what is an externality -fine! [S6]Use of anothe key notion-good! [S7]So true! [S8]Use /refer to the material presented - good! [S9]My emphasis! Good [S10]So it is p[ossible to control the "invisible elbow" [S11]A sensible reservation I would say! [S12]It is better to avoid rhetorical questions. Whehever you pose a question you need for presentation purposes o provide an answer. [S13]Itr is much better to be speptical. [S14]Indeed this is so. Should you also show the relationship, if an, between this patterns and environmental impacts? ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Economy & Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Economy & Economics essays

  1. Free essay

    The Economic Impact of the London 2012 Olympics

    h?w thi? ?p?nding tr?n?l?t?? int? inc?m? ?nd ?mpl?ym?nt. In th? p??t, input-?utput m?d?l? h?v? b??n th? prim?ry m??n? ?f tr?n?l?ting ?p?nding ?ff?ct? int? inc?m? ?nd ?mpl?ym?nt ?ff?ct?. ? numb?r ?f ?I?? h?v? b??n c?nduct?d ?f ?lympic G?m?? u?ing th??? m?d?l?. Input-?utput t?bl?? ?r? ?t th? c?r? ?f input-?utput m?d?l?.

  2. Macroeconomic Objectives and their impact on Business Activity

    To prevent the exchange rate rising, the government must sell their own currency and buy other currencies, which are then added to the reserves. An economy should aim for only a small surplus on the current account of the BOP. Devaluation is one possible way of achieving this BOP objective.

  1. Toyota Motor Company Limited

    Therefore through insistent localization of its operations, Toyota is now going ahead to work on the development of automobiles that met the diverse needs of different regions while at the same time determined to benefit local communities. Enhancing cost competitiveness: At present there is fierce competition in automobile industry, which

  2. Discuss the view that the free market economy encourages negative externalities and thus the ...

    Problems that arise from negative externalities show evidence that the economic system is "failing". This failure however is due to the fact that the market is not allowed to function properly rather than because it is. If the necessary institutional conditions for a free market process are not present then the free market can hardly be blamed.

  1. Evaluate the impact of Nike's outsourcing strategy and factory location on the host nation

    only barely cover the cost of living meaning there is less money for people to spend in the local economy. This argument suggests that Nike doesn't impact Host nations economies. However Nikes code of conduct has been put in place to protect workers so they benefit from Nikes operations by providing minimum wage requirements and training opportunities.

  2. Free essay

    Globalisation & changing career patterns

    employment, refinement of labour and managerial skills, and the sharing and transfer of technology. In the long-run, the EME's overall production levels should rise, increasing its GDP and eventually lessening the gap between the emerged and emerging worlds. Getting It Right - Key Considerations As detailed earlier in this report,

  1. Chinese car market overview. Citroen case study

    Initial designed capacity is 50,000 units, with the option to expand to 150,000 in the future. Ford, which concluded unsuccessful negotiations for two separate joint ventures in the 1990s, expects the new venture, Changan Ford, to produce 30,000 Ikons in 2003.

  2. Bellway Plc is a holding company with subsidiaries; its main subsidiary company is Bellway ...

    This is due to the low interest rate currently in the market and interest payment being cheaper then dividends. In 2004, �7,725,000 interest was paid while �29,864,000 was paid out as dividends. The debt finance was required by Bellway to finance their strategic landbank growth.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work