Question

What are the economic tradeoffs between low-income and high-income countries in international conferences on global environmental damage?

Short answer

The economic tradeoffs between low-income and high-income countries in international conferences on global environmental damage is to reduce pollution by using technologies that control pollution.

Step-by-step solution

Step 1. Meaning of tradeoff.

A tradeoff is a sacrifice that must be made in order to get the next best thing.

An economic tradeoff is an opportunity cost, i.e. the next best alternative is forgone.

Step 2. The economic tradeoffs between high and low-income countries.

The economic tradeoffs between low-income and high-income countries in international conferences on global environmental damage are to reduce pollution by using technologies that control pollution. The high-income countries want the low-income countries to reduce pollution. They help the low-income countries by paying some of the cost for controlling pollution or, by providing the necessary technology for the reduction of pollution.