External Costs of Pollution from Plastic
- Levels: GCSE, AS, A Level, IB
- Exam boards: AQA, Edexcel, OCR, IB, Eduqas, WJEC
There is growing and widespread evidence of the damage caused by plastic pollution especially in oceans.
- One truckload of plastic is dumped into the ocean every minute
- By 2050, the weight of plastic will likely outweigh that of fish
- Only a small amount of plastic is currently recycled
- Plastic marine litter disintegrates into tiny pieces and ends up in food
Around 8 million tonnes of plastic is dumped into the sea every year, affecting the lives of so many creatures. 😢 #BluePlanet2 pic.twitter.com/gG1fqIDVnw
— BBC One (@BBCOne) November 19, 2017
Examples of government policy interventions to address the problem of plastic pollution
- Banning microbeads from consumer products
- Bans on plastic cotton buds and other products
- Plastic bag charge/ tax to reduce single use bags
- Encourage businesses to develop recyclable polymers
- Provide free drinking water in cafes / restaurants / public places
- Refundable deposit schemes on plastic bottles
Market failure analysis diagram
Microplastic in the ocean might be altering the brains of fish and their behavior. https://t.co/QeWkaoD4BI #plasticpollution #SaveOurOceans pic.twitter.com/aYjpHG8upm
— Plastic Oceans (@PlasticOceans) October 11, 2017
Plastic straw and cotton bud ban proposed https://t.co/9IEZOno9v4
— BBC World Business (@BBCWorldBiz) April 19, 2018
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- Economics
- Study notes
- Pollution
- External Cost
- Negative externality
- Market Failure
- Government Failure
- Tragedy of the Commons
- Common Pool Resources
- Plastic bag tax
- Plastic Pollution
Geoff Riley
Geoff Riley FRSA has been teaching Economics for thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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