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However, before one can start down this pathway and examine, expand and evaluate two of the important economic policy options available in regards to understanding and influencing ‘negative production and consumption externalities’ one must first make an effort to explain what these two economic and trade terms actually mean in both policy language and real world terminology.
According to one leading academic source, the University of Berkley department of Environmental Economics and Policy ; ‘Negative Production Externalities’ can be defined as: the production activities of one individual or organization that causes the imposition of cost/benefits on other individuals that are not transmitted accurately through the market at large...
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