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Terms in this set (25)
Which of the examples below illustrates the economic principle of a negative externality?
cost of transportation of goods from the site of production to a market
cost of labor to produce a product
cost or benefit of a transaction that involves the buyer or seller when both parties lose money
cost of rebuilding roads damaged
by trucks heavily loaded with goods
cost of rebuilding roads damaged by trucks heavily loaded with goods
This is not a negative externality because it only focuses on the parties involved in a transaction. To be an externality, the cost must NOT be borne by the parties involved in the transaction.
How did the Scottish philosopher Adam Smith view the role of economics within society?
He believed that
individuals acting in their self-interest would harm society.
He felt that individuals would benefit society no matter what form of economics were in place.
He argued that individuals acting in self-interest would benefit society (as long as their behavior was constrained by private property rights).
He argued that markets must be regulated to control their negative effects on society.
He argued that individuals acting in self-interest would
benefit society (as long as their behavior was constrained by private property rights).
Smith believed that individual values would drive the market in a positive direction, as if by "an invisible hand.
Which approach assists consumers in choosing products that are grown or manufactured with environmentally friendly methods?
Energy Star labeling
ecodocuments
ecolabeling
envirolabeling
ecolabeling
Ecolabeling informs consumers which brands use environmentally benign processes.
Economists assess the economic health of a nation by calculating its _______.
net primary productivity
Gross Domestic Product
gross primary productivity
net domestic product
Gross Domestic Product
The GDP sums together all economic activity regardless of whether it is good or bad for the environment. The
neoclassical economists assume that there must be constant growth of GDP.
Which kind of development would be promoted if a government worked on finding a balance between economic security, environmental protection, and social equity?
cornucopian
sustainable
biocentric
neoclassical
sustainable
Sustainable development seeks to create economic systems that preserve the environment and satisfy
social needs.
Which book by Aldo Leopold advocated an ethical approach to land that changes the role of humans from conquerors to mere members of the planet?
A Sand County Almanac
Our Stolen Future
The Land Ethic
Silent Spring
The Land Ethic
Leopold stated, "The land ethic simply enlarges the boundaries of the community to include soils, waters, plants, and animals or collectively: the
land. . . It implies respect for his fellow members and also respect for the community as such."
The environmental justice movement started because _______.
Aldo Leopold published The Land Ethic.
corporate polluters were not serving jail time for breaking environmental laws
people realized that environmental damage is not equally distributed among all classes and racial groups; minority and low-income communities tend to contain a much
larger share of the environmental damage (such as landfills, incinerators, toxic waste sites, etc.)
the Environmental Protection Agency was not doing its job
people realized that environmental damage is not equally distributed among all classes and racial groups; minority and low-income communities tend to contain a much larger share of the environmental damage (such as landfills, incinerators, toxic waste sites, etc.)
Environmental justice
focuses on the racial and socioeconomic component of environmental damage.
What are nonmarket values?
the cost of disposing of the waste that is associated with manufacturing certain products
the cost of health care associated with toxic foods
taxes encountered after a purchase
values for items such as ecosystem services that are not usually included in the price of a good or service
values
for items such as ecosystem services that are not usually included in the price of a good or service
Nonmarket values are costs that the consumer is not required to pay. They are usually ecosystem services that are difficult to put a dollar figure on.
In which of the following ways did neoclassical economics contribute to environmental problems?
by encouraging society to view the supply of resources as infinite
by forcing buyers to pay
for ecosystem services
by encouraging industry continually to improve technology
by encouraging governments to give subsidies to environmentally damaging businesses
by encouraging society to view the supply of resources as infinite
For this reason many economists believe in perpetual growth of the economy and believe that a ballooning population is not a problem because more people create more opportunities. "Growth is good" is their
nostrum.
What is meant by "market failure"?
The national GDP drops below the level forecast by Wall Street investors.
This occurs when markets do not take into account the environment's positive effects on economies (such as ecosystem services) or when they do not reflect the negative impacts of economic activity on people or the environment (external costs).
When economists are forced to use contingent valuation rather than rely on
direct costs and benefits.
When the GDP dips below the GPI.
This occurs when markets do not take into account the environment's positive effects on economies (such as ecosystem services) or when they do not reflect the negative impacts of economic activity on people or the environment (external costs).
While these are important indicators of economic progress (GDP) and economic/social well-being (GPI), they do not define market
failure.
Which type of ethical perspective is held by an individual who opposes the building of a new dam, which would generate needed hydropower, if the dam would cause the extinction of an entire species?
environmentalism
evolution
biocentrism
ecocentrism
biocentrism
Ecocentrism is more concerned about the stability of the entire biotic and abiotic environment.
biocentricism believe that some nonhuman
life has intrinsic value
The conservation ethic suggested that _______.
citizens be required to recycle
resources should be used from natural areas but in a responsible way such that they are not depleted
land be put aside for national parks so that only the government can have access to it
land should be preserved in the natural environment in a pristine, unaltered state
resources should be
used from natural areas but in a responsible way such that they are not depleted
This is the preservation ethic.
How does the GDP (Gross Domestic Product) differ from the GPI (Genuine Progress Indicator)?
GPI calculates the total value of goods and services, while the GDP focuses on just the goods produced.
The GDP only makes calculations for a single calendar year, while the GPI looks at historical trends and projects into the
future.
The GPI takes into account externalities (both good and bad) and other nonmarket values, while the GDP does not.
GDP does not include items bought and sold over the Internet. Critics say that this makes the GDP out of date and came up with the GPI to add these purchases into the calculations.
The GPI takes into account externalities (both good and bad) and other nonmarket values, while the GDP does not.
The GDP just calculates the
monetary value of the final goods and services produced in a country in a year. Environmentally and socially degrading activities can add to the GDP in the short run, but are not sustainable in the long term. The GPI adds in these nonmarket values.
How does pollution change the Gross Domestic Product (GDP)?
GDP goes down when society pays to remove the substance from the environment.
GDP goes up when the polluting substance is produced and
again when society pays to remove the substance from the environment.
It has a zero net effect.
There is no correlation between pollution and GDP
GDP goes up when the polluting substance is produced and again when society pays to remove the substance from the environment.
GDP is a measure of all economic activity, both desirable and undesirable.
n a subsistence economy, individuals _______.
live in harmony with their environment and do not pose a threat to it
choose to refrain from participation in advanced society and trade
attempt to acquire large amounts of wealth and goods as a status symbol
meet most of their needs from nature, but may trade for local goods made by different clans or families
meet most of their needs from nature, but may trade for local goods made by different clans or families
The large percent of the
world's population still operates on a subsistence economy.
Two individuals can look at the same environmental problem and come up with exactly the opposite solution, although both individuals have sound explanations based on their culture. This reflects a difference in _____.
worldview
GDP
prejudices
GPI
worldview
Two individuals with different cultures and different personal experience
could come to very different conclusions about environmental issues.
A universalist would argue that an ethical standard like _____ exists across all cultures and contexts.
the intrinsic standard
the categorical imperative
biocentrism
the utilitarian value
the categorical imperative
Not all people agree that the utilitarian value of an action is important in making decisions. A
universalist expects a standard to be applied across all cultures and contexts.
Suppose someone said, "Earth and all of its contents were created for the betterment of human beings, so as long as something is good for humans, it is good for the whole Earth." What ethical perspective would they hold?
biocentric
GDP
anthropocentric
ecocentric
anthropocentric
This view is
human-centered.
During what century did consumption of natural resources and pollution increase dramatically for the first time in human history?
The 15th century
The first century
The 19th century
The 21st century
The 19th century
The industrial revolution occurred during the 19th century and led to mass consumption of natural resources and pollution.
Two scientists are debating the responsibility of humans to the environment. The first debater says, "We should maintain the environment in its most natural state as if we hadn't been here at all." The second says, "We should use the environmental resources available to us but not abuse them." Which two scientists discussed in this chapter would have made these comments, respectively?
Emerson; Thoreau
Pinchot; Hetchy
Hetchy; Muir
Muir; Pinchot
Muir; Pinchot
Hetch Hetchy is not a person, but a valley in Yosemite National Park.
Members of the _____ movement would be very concerned about the unequal exposure of members of a certain race to pollution.
human population
preservationist
environmental justice
conservationist
environmental justice
The human population movement does not exist. What movement is
concerned with the equitable treatment of all people regarding environmental policy?
What kind of economy does the United States have?
hybrid capitalist/socialist
centrally planned
socialist
capitalist
hybrid capitalist/socialist
Virtually all national economies today are hybrid systems. The United States has in fact borrowed a great deal from socialism.
A country based on _____ would relate most easily with the ideas asserted by Adam Smith.
capitalism
environmental justice
subsistence
ecofeminism
capitalism
Ecofeminism proponents believe that the male-dominated society is not only causing problems socially but also environmentally. What economic idea did Adam Smith propose?
While in the grocery store, Maria chooses to purchase the soy milk produced from nongenetically modified soybeans over the brand grown conventionally. Maria has made use of _____ for her decision.
ecolabeling
market analysis
GDP
green accounting
ecolabeling
The Gross Domestic Product has nothing to do with Maria's individual purchase decision.
A company that produces household cleaners decides to produce a "green" version of its products, even though the formulas are virtually unchanged compared to the original formulas. This is an example of _______.
greenwashing
whitewashing
ecolabeling
ecofeminism
greenwashing
Greenwashing is used to lead customers into believing a company or product is "greener" than it really is.
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