Botkin: Chapter #27: Dollars and Environmental Sense: Economics of Environmental Issues
1: What does it mean that a factor is tangible? Intangible?
-Tangible : Meausrable
-Intangiable: –Hard to quantify
2: What is “tragedy of the commons”?
-–When a resource is shared, an individual’s personal share of profit from exploitation of the resource is usually greater than that individual’s share of the resulting loss.
3: What is a “commons”?
-•any resource owned publicly with public access for private uses.
4: Explain how cow herding is an example of “tragedy of the commons”.
-–The positive value is the benefit when the herder sells that cow.–The negative value is the additional grazing by the cow
.5: What are some examples of the “commons”?
-–US forest, 38% are on publicly owned lands.
–Ocean fisheries away from coastlines
–Deep-ocean seabed, where valuable mineral deposits lie
–Antarctica
–The atmosphere
–Great Chagos Bank in the Indian Ocean
6: How does low growth rate of a resource contribute to its overexploitation?
-It contributes to resource sustainability and maximum profit.
7: What is an externality? Give an example.
-–An effect not normally accounted for in the cost–revenue analysis of producers.
-Air and water pollution
8: What are public services of nature (ecosystem services)? How much are they worth?
-They are services provided by nature that benefit humans, hey are worth $3 trillion to $33 trillion per year
9: Why is it hard to value nature?
-We all have different view on natue some appreciate it and some just think that everything will always be there
10: How do we evaluate the acceptability of risk?
-The riskiness of a present action in terms of its possible outcomes is weighed against the benefit, or value, of the action
11: What is the U.S. Toxic Substances Control Act?
-–No one may manufacture a new chemical substance w/o obtaining a clearance from the EPA.–Act establishes procedures to estimate the hazard to the environment and to human health.
12: How do we achieve environmental policy?
-–Direct controls, which include regulations–Market processes, which affect the price of goods and include taxation of various kinds, subsidies, licenses, and deposits
–Government investments, which include research and education.
13: What are the 3 common methods of control of pollution?
-–(1) setting maximum levels of pollution emission
–(2) requiring specific procedures and processes that reduce pollution
–(3) charging fees for pollution emission
-Tangible : Meausrable
-Intangiable: –Hard to quantify
2: What is “tragedy of the commons”?
-–When a resource is shared, an individual’s personal share of profit from exploitation of the resource is usually greater than that individual’s share of the resulting loss.
3: What is a “commons”?
-•any resource owned publicly with public access for private uses.
4: Explain how cow herding is an example of “tragedy of the commons”.
-–The positive value is the benefit when the herder sells that cow.–The negative value is the additional grazing by the cow
.5: What are some examples of the “commons”?
-–US forest, 38% are on publicly owned lands.
–Ocean fisheries away from coastlines
–Deep-ocean seabed, where valuable mineral deposits lie
–Antarctica
–The atmosphere
–Great Chagos Bank in the Indian Ocean
6: How does low growth rate of a resource contribute to its overexploitation?
-It contributes to resource sustainability and maximum profit.
7: What is an externality? Give an example.
-–An effect not normally accounted for in the cost–revenue analysis of producers.
-Air and water pollution
8: What are public services of nature (ecosystem services)? How much are they worth?
-They are services provided by nature that benefit humans, hey are worth $3 trillion to $33 trillion per year
9: Why is it hard to value nature?
-We all have different view on natue some appreciate it and some just think that everything will always be there
10: How do we evaluate the acceptability of risk?
-The riskiness of a present action in terms of its possible outcomes is weighed against the benefit, or value, of the action
11: What is the U.S. Toxic Substances Control Act?
-–No one may manufacture a new chemical substance w/o obtaining a clearance from the EPA.–Act establishes procedures to estimate the hazard to the environment and to human health.
12: How do we achieve environmental policy?
-–Direct controls, which include regulations–Market processes, which affect the price of goods and include taxation of various kinds, subsidies, licenses, and deposits
–Government investments, which include research and education.
13: What are the 3 common methods of control of pollution?
-–(1) setting maximum levels of pollution emission
–(2) requiring specific procedures and processes that reduce pollution
–(3) charging fees for pollution emission