Unit 2.8 · Market Failure: Externalities and Common Pool Resources
Importance of International Cooperation
AO3
Syllabus Requirement
Sustainability issues often require international coordination, which poses challenges in monitoring and enforcement.
Assessment Objectives
AO3Synthesis and Evaluation
Summary
International cooperation is essential for addressing market failures and managing common pool resources effectively. This cooperation is necessary due to the global nature of sustainability challenges, which require collective action to ensure the sustainable use of resources and to mitigate negative externalities.