I NEED THIS ANSWERED ASAP!!! PLEASE HELP!!!! A country passes legislation requiring that all plants imported from other countries undergo extensive tests to demonstrate that they are not carrying any invasive species of insect. Identify a potential economic benefit and a potential cost of this policy, and explain how it utilizes the precautionary principle.

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Answer 1

Answer: Great question! Let me help you with this.

1. Potential economic benefit: The potential economic benefit can come from two areas. One, lower imports of plants will improve the trade deficit of the country.

Secondly, Imported plants may cause damage to the local ecology and restricting their import would save costs of environmental damage.

2. Potential costs: The first potential cost is that other countries might restrict importing our plants, which would be a blow to the export industry.
Secondly, a whole floriculture industry might be dependent on important plans which might face a lot of trouble after the ban.

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