Discuss the externality that the sector can impact society’s wellbeing and welfare. Apply externality theories in the discussion and provide supporting data and evidence. Include relevant economic diagrams in your essay.
INSTRUCTIONS Step 1: Choose one of the three topics below (a) Social media (e.g. Facebook, Instagram and TikTok) (b) Smart devices (e.g. smartphones and tablets) (c) Recycling Step 2: Use the questions to assist you in developing your essay. 1. Using demand and supply concepts, illustrate how the industry has changed in the past decades. […]