This is a timed quiz.
You have 15 minutes to complete the 16 questions in this quiz.
Economics is the study of how people decide to use resources to provide goods and services.
What is the oldest type of economy?
Capitalist market economy.
Centrally planned economies.
Subsistence economy.
Adam Smith believed that self-interest behavior could benefit society, as long as the behavior was constrained by the rule of law and private property rights and operated within fairly competitive markets.
All of the following are external costs EXCEPT:
Property damage.
Human health problems.
Stress and anxiety experienced by people downstream or downwind from a pollution source.
Increasing res estate values.
Our global economy is seven times the size it was just half a entry ago?
Cost-benefit analysis is:
Totaling up estimated costs for a proposed action and comparing these to the sum of benefits estimated to result from the action.
Seller desire the highest possible price.
Costs will always exceed. This should always be chosen over benefits.
Environmental economists tend to disagree with ecological economists that economies are unsustainable if population growth is not reduced?
An example of a nonmarket value is:
Additional money that should have been included in the sales of property.
Aesthetics and recreational pleasure we obtain from natural landscapes.
Goods and materials lost that should have been accounted for.
Market failure occurs when markets do not take into account the environment's positive contribution to economies?
Public Policy
Is policy that pertains to human interactions with the environment.
Is policy made by governments.
Does not have a set of formal rules or plans.
The Environmental Protection Agency has nothing to do with politics.
Historians suggest that major advances in environmental policy occurred in the 1960's and 1970's because:
Evidence of environmental problems became widely and readily apparent.
People could visualize policies to deal with the problems.
The political climate was ripe, with a supportive public and leaders who were willing act.
All of the above.
The United Nations (UN) represents multinational corporations and promotes free trade by reducing obstacles to international commerce and enforcing fairness among nations in trading practices.
Which of the following is NOT a step in the policy process?
Envisioning a solution.
Shepherds the solution into law.
Creating a larger problem in order to make yours seem easy to solve.
Identify a problem.
Ecolabeling tells consumers which brands use environmentally benign processes.
Green taxes have no drawbacks;businesses will pay the taxes for consumers.