Flashcards on Environmental Economics

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What is environmental economics?

Environmental economics is a subfield of economics that focuses on the relationship between the economy and the environment.

What are the main objectives of environmental economics?

The main objectives of environmental economics are to improve resource allocation, encourage sustainable development, and internalize externalities.

What is the concept of externality in environmental economics?

Externality refers to the impact of one person's actions on the well-being of others that is not reflected in market prices.

What are some examples of negative externalities related to the environment?

Examples of negative externalities include pollution, deforestation, and depletion of natural resources.

What is the concept of sustainable development?

Sustainable development refers to the practice of meeting the needs of the present without compromising the ability of future generations to meet their own needs.

What are the different market-based instruments used in environmental economics?

Market-based instruments include taxes, subsidies, cap and trade systems, and tradable permits.

What is the role of cost-benefit analysis in environmental economics?

Cost-benefit analysis is used to assess the net social benefits or costs of a proposed environmental policy or project.

How does environmental economics contribute to sustainable development?

Environmental economics provides tools and concepts to assess the value of environmental resources and incorporate them into decision-making processes.

What are the challenges faced in implementing environmental policies?

Challenges include political resistance, lack of accurate valuation of environmental resources, and distributional effects of policies.

What is the concept of market failure in environmental economics?

Market failure occurs when markets do not allocate resources efficiently and fail to reflect the true costs and benefits of environmental goods and services.

How does environmental economics address the tragedy of the commons?

Environmental economics provides solutions such as property rights, regulation, and collective action to prevent overexploitation of shared environmental resources.

What is the role of economic incentives in environmental conservation?

Economic incentives can encourage behavior that promotes environmental conservation by providing rewards or penalties based on desired outcomes.

What is the concept of discounting in environmental economics?

Discounting refers to the practice of assigning lower importance to future costs and benefits compared to present costs and benefits.

What are some approaches to valuing environmental resources?

Approaches include market prices, stated preference methods, revealed preference methods, and cost of replacement.

How does environmental economics contribute to policy-making?

Environmental economics provides analytical tools and frameworks to assess the costs and benefits of different policy options.

What is environmental economics?

Environmental economics is a subfield of economics that focuses on the relationship between the economy and the environment.

What are the main objectives of environmental economics?

The main objectives of environmental economics are to improve resource allocation, encourage sustainable development, and internalize externalities.

What is the concept of externality in environmental economics?

Externality refers to the impact of one person's actions on the well-being of others that is not reflected in market prices.

What are some examples of negative externalities related to the environment?

Examples of negative externalities include pollution, deforestation, and depletion of natural resources.

What is the concept of sustainable development?

Sustainable development refers to the practice of meeting the needs of the present without compromising the ability of future generations to meet their own needs.

What are the different market-based instruments used in environmental economics?

Market-based instruments include taxes, subsidies, cap and trade systems, and tradable permits.

What is the role of cost-benefit analysis in environmental economics?

Cost-benefit analysis is used to assess the net social benefits or costs of a proposed environmental policy or project.

How does environmental economics contribute to sustainable development?

Environmental economics provides tools and concepts to assess the value of environmental resources and incorporate them into decision-making processes.

What are the challenges faced in implementing environmental policies?

Challenges include political resistance, lack of accurate valuation of environmental resources, and distributional effects of policies.

What is the concept of market failure in environmental economics?

Market failure occurs when markets do not allocate resources efficiently and fail to reflect the true costs and benefits of environmental goods and services.

How does environmental economics address the tragedy of the commons?

Environmental economics provides solutions such as property rights, regulation, and collective action to prevent overexploitation of shared environmental resources.

What is the role of economic incentives in environmental conservation?

Economic incentives can encourage behavior that promotes environmental conservation by providing rewards or penalties based on desired outcomes.

What is the concept of discounting in environmental economics?

Discounting refers to the practice of assigning lower importance to future costs and benefits compared to present costs and benefits.

What are some approaches to valuing environmental resources?

Approaches include market prices, stated preference methods, revealed preference methods, and cost of replacement.

How does environmental economics contribute to policy-making?

Environmental economics provides analytical tools and frameworks to assess the costs and benefits of different policy options.

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