[SOLVED] The Concept of Externalities

Watch these three videos:a) What is a Corporation? [http://www.youtube.com/watch?v=Pin8fbdGV9Y]b) Concept of “Externalities” [http://www.youtube.com/watch?v=aCGTD5Bn1m0&feature=related]c) Case Histories (Part 5) [http://www.youtube.com/watch?v=H3m5lq9FHDo&feature=related]After watching the videos RESPOND to (3) topic posts, dealing with Social, Ethical, and Environmental ResponsibilityTOPIC: Labor PracticesLabor practices in developing countries – while some argue that paying workers pennies a day to manufacture goods for export actually benefits developing countries and their citizens, others feel that this practice is unfair.TOPIC: Advertising to ChildrenAdvertising to children – while some argue that advertising to children is taking advantage of their lack of cognitive development, others feel it is fair game to help them satisfy needs and wants.TOPIC: Social Responsibility and AccountabilitySocial responsibility and accountability – some argue that corporations who do not act responsibly will be “punished by the market” (i.e., consumers will not make purchases if they act unethically), while others feel that governments or citizens should regulate industries and businesses.