Summarize Written Text

Greenhouse Gases

When an individual drives a car, heats a house, or uses an aerosol hairspray, greenhouse gases are produced. In economic terms, this creates a classic negative external. Most of the costs (in this case, those arising from global warming) are borne by individuals other than the one making the decision about how many miles to drive or how much hairspray to use. Because the driver (or sprayer) enjoys all the benefits of the activity but suffers only a part of the cost, that individual engages in more than the economically efficient amount of the activity. In this sense, the problem of greenhouse gases parallels the problems that occur when someone smokes a cigarette in an enclosed space or
litters the countryside with fast-food wrappers. If we are to get individuals to reduce production of greenhouse gases to the efficient rate, we must somehow induce them to act as though they bear all the costs of their actions. The two most widely accepted means of doing this are government regulation and taxation, both of which have been proposed to deal with greenhouse gases.

Greenhouse gasses are produced in our daily activities and could create negative external, which means that most of the cost behind these actions are shouldered by a vast majority of innocent people, and therefore such behaviors can only be regulated through government regulation and taxation. (45 words)

When an individual produces greenhouse gases by driving a car, heating a house or even using an aerosol hair spray, creates negative external, and the costs are borne by individuals other than the one causing them, and for tackling this problem, government regulation and taxation are said to be the most widely accepted means. (54 words)