In 2006, Professor Nicolas Stern of the United Kingdom stated "Climate change is the greatest market failure the world has ever seen." Which of the following statements describes the biggest challenge to efforts to begin correcting this market failure?

Question

Quizplus · Accepted Answer

Climate change is a global problem, and therefore requires coordinated efforts among all major governments to effectively address it. Without policy design that is coordinated globally, individual countries may not do enough to reduce emissions, resulting in an inadequate response to the magnitude of the problem.

In 2006, Professor Nicolas Stern of the United Kingdom Stated