Chapter 3 ecology review

Which is not a step in the cost-benefit analysis?

Determination of tradable emissions

A market-based instrument is a calculation of the net benefit or total positive impact of an environmental policy.

False

A similarity between ecosystems and markets is that they both operate in the same time frame.

False

Environmental costs are easy to assess, since they can be easily converted into monetary values.

False

In economics, the price rises when demand exceeds supply

False

More people die from aircraft accidents than from motor vehicle accidents.

False

Probability is the same as possibility.

False

Risk assessment usually involves a statement regarding the possibility that something could occur.

False

The supply is the amount of goods or services people are willing to sell at a given price.

False

There is essentially no difference between risk assessment and risk management.

False

Which of the following is NOT a factor in consumer interest in the green economy?

General knowledge that the government will be raising taxes on oil

Many of the negative effects companies have on the environment could be offset by___ government regulations, but such regulation could also___ impact industry and the economy.

Increased, negatively

Which of the following is a market-based instrument?

Information programs

Classically there are three kinds of resources, which are.

Labor, capital, and land.

Economic factors should be considered when.

Making an environmental decisions.

Point at which there is no significant health or environmental risk

Negligible risk

When the supply of a commodity exceeds the demand.

Producers lower their prices.

We assign value to natural resources based on our perception.of their

Relative Scarcity

Likelihood that a condition or action will lead to injury, damage, or loss.

Risk

Decision-making process that uses input such as risk assessment and economic impacts.

Risk management

The amount of a good or service available to be purchased is the.

Supply

Relationship between available supply of a commodity or service and its price.

Supply/demand curve

Using renewable resources in harmony with ecological system to produce a rise in real income and improved standard of living.

Sustainable development

Which of the following is a disadvantage of a subsidy?

The actual cost of a subsidized product is higher because bureaucracy necessary to administer the subsidy costs money.

What does the price of a product or service reflect?

The demand for an availability of the product/

Which of the following is an example of an extended product responsibility

The use of recycled wood products in the manufacture of new products.

In the United States, performance bonds are used.

To cover the cost of reclaiming and revegetating mined sites.

Deciding which risk should be given the highest priority and how much risk is acceptable are two decisions involved in risk management.

True

Economists look at resources as the available supply of something that can be used.

True

Man has a tendency to misuse or overexploit any resource that Is held in common public ownership.

True

One concern of the cost-benefit analysis is that it places an economic value on everything.

True

Primary environmental cost is pollution.

True

Risk is the probability that a condition or action will lead to an injury, damage, or loss.

True

The general public typically perceives involuntary risk, such as nuclear weapons, a greater risk than voluntary risks, such as smoking.

True

cost-benefit analysis is concerned with whether a policy generates more social benefits than social cost.

True

Which of the following does NOT demonstrate the use of renewable resources?

Using underground coal deposits to produce heat and electricity

Amount of a product that consumers are willing and able to buy at a given price.

demand

The goal of a deposit-refund program is to

encourage product recycling through the refund of a deposit

Mathematical statement about how likely it is that something will happen.

probability

Uses of facts to estimate the probability of harm to human health that may result from exposure to pollutants, toxins, or management decisions.

risk assessment