Private/Social costs of logging rainforests (1 Viewer)

[mushroom_head]

what did u write for this question?

for social cost- logging causes pollution, salinity etc
i'm not so sure whether what i wrote for private cost was correct so i just said that our future generation would not be able to experience the same pleasure we get from rainforests today?!

would that be right?

 

[Sweet_Lemon]

i think i swaped them around~~ =.=|||

 

[ZabZu]

private cost - wages for the workers plus cost of machinery
social cost - i refered to the source by saying that economic relations with other countries would deteriorate

how many marks was the question again?

 

[mushroom_head]

it was 2 marks from what i remember

 

[Rorix]

3 marks

private costs - labour costs, machinery, essentially monetary costs associated with logging
social costs - unpriced externalities such as the loss of biodiversity and climate change from the deforestation, pollution from labourers/machines yadya da

 

[neo o]

3 marks

private costs - labour costs, machinery, essentially monetary costs associated with logging
social costs - unpriced externalities such as the loss of biodiversity and climate change from the deforestation, pollution from labourers/machines yadya da

The best way to say it was probably

1) Private costs are costs that are factored into the final price of the timber, i.e. capital, labour.

2) Social costs are unpriced externalities which are not factored into the costs of production such as biodiversity, which affects the utility that others can gain from the public good.

 

[PhiL]

THere is also private costs to the employees: ie. costs of getting to work which then have social costs eg pollution from cars to get to work

 

[matt_f64]

yeah i did
private costs = costs of production such as costs of labour and machinery etc
social costs = costs that arent carried by producers.. ie. externalities such as reduction in biodiversity.. incresed pollution due to a lack of photosynthetic trees.

 

[Shuter]

I did social costs first, went:
Social costs: loss of biodiversity, eyesight pollution from the bare hill left after it.
Private costs: Costs associated with actually chopping down the trees that the company has to pay for.
Said social costs vary to private costs as they are reffering to the externalities created by the chopping down of the trees.

 

[mushroom_head]

damn! then where does the future generation come in?

 

[Shuter]

damn! then where does the future generation come in?

Ecologically sustainable Development. Future generations are a social cost.

 

[skypryn]

I did social costs first, went:
eyesight pollution
.

well put. i hope you didn't actually use those terms in the exam...

 

[SpaceMonkey]

Private - Polluted air, more carbon dioxide and less oxygen
Private - Logging permits/licences, fines

edit: This question did not have enough lines!!!

 

[CharlieB]

i put labour costs for private costs but i also put oppurtunity costs... do you guys think i'll be marked down?

 

[Shuter]

well put. i hope you didn't actually use those terms in the exam...

I didn't use that exact wording but I did talk about how it wouldn't be visually appealing. That is a social cost in the textbook.

 

[lovelydebisme]

anyway...

i wrote private cost is the labour cost and capital cost, while the social cost is pollution...

 

[matt_f64]

thats fine!

 

[hiphophorray123]

umm i put as social cost:

it will create pollution and reduce oxygen in immediate area, thus, resulting in a reduction of quality of life (in the immediate areas), not a good indication of the economy.

economics cost: degradates the soil which is a widely used resource

 

[sgt]

shit i just said social cost is pollution
and private cost is having to drive in a hot bulldozer all day ...
will i get ne marks?

 

[hiphophorray123]

your social cost is right but not ur private cost ^