Question

In: Economics

(b) “Saving a unit of energy consumption saves lot more energy in nature” Do you agree...

(b) “Saving a unit of energy consumption saves lot more energy in nature” Do you agree or disagree with this proposition? Illustrate your argument using a numerical example. [5 points]

Solutions

Expert Solution

Saving a unit of energy consumption saves a lot more energy in nature’. I agree with this proportion. Everything as a whole is combined by so many different single units. Like the water as a whole is combined by drops, every particle in the universe is combined by so many different and single elements. The formation of energy is like the same. Reducing the consumption of energy by a single unit can save a large amount of energy when done regularly. Also, saving a single unit of energy by many different people will help reducing the consumption as a whole.
Let’s take a numerical example of the consumption of energy. A group of households consist of 100 houses uses an amount of 5 units of electricity on an average. That means they consume a total of 500 units of electricity. If they start saving a unit of electricity, the consumption will be reduced to 4 units in an average. Which means the total consumption will be reduced to 400 units.
Along with saving 100 units of electricity, they save the energy to produce another 100 units of electricity which is actually greater than that. So, as a whole, saving a single unit, the reduction will reduce the consumption as a whole and also the energy to create the amount which is saved. Thus, the benefit is twice from saving a single unit by large or through many.


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