Key Terms:
commons: Land belonging to the public
direct costs: Costs borne by the producer in obtaining, processing, and distributing a product.
environmental economics: Effects of the environment and how economic processes affect the environment and it's living resources
externality: Benefit that affects a party that didn't want to be part of it.
indirect cost: Costs indirectly accountable to a cost object
intangible factor: Soft factors that are difficult to quantify.
natural capital: The extension of the economic notion of capital
policy instruments: Implements a society's policies
public-service functions: functions to benefit other species in an ecosystem
risk-benefit analysis: Putting risks towards the future than in the present
tangible factor: Something that is able to be touched, bought, and sold.
Questions:
What is meant by the term the tragedy of the commons?
The tragedy of the commons means the loss of resources due to over-exploitation.
Which of the following are the result of this tragedy?
A & B
(a) The fate of the California condor
(b) The fate of the gray whale
Cherry and walnut are valuable woods used to make fine furniture. Basing your decision on the information on the following table, which would you invest in?
(B) as is lasts longer making it a higher value.
Bird flu is spread in part by migrating wild birds. How would you put a value on (a) the continued existence of one species of these wild birds; (b) domestic chickens important for food but also a major source of the disease; (c) control of the disease for human health? What relative value would you place on each (that is, which is most important and which least)? To what extent would an economic analysis enter into your valuation?
(A)
Which of the following are intangible resources?
Which are tangible?
A-Intangible
B-Tangible
C-Tangible
D-Tangible
E-Tangible
What kind of future value is implied by the statement
“Extinction is forever”? Discuss how we might approach
providing an economic analysis for extinction.
The future value that is implied is that there will be no more of the thing that is becoming extinct having no future at all. Whether or not the species provide eco service or not is the approach of an economic analysis.
Which of the following can be thought of as commons
in the sense meant by Garrett Hardin? Explain your choice.
(a) Tuna Fisheries in the open ocean because the public is able to profit themselves with the amount of tuna they catch and sell or use for their own consumption instead of letting them have the chance to reproduce their population.
commons: Land belonging to the public
direct costs: Costs borne by the producer in obtaining, processing, and distributing a product.
environmental economics: Effects of the environment and how economic processes affect the environment and it's living resources
externality: Benefit that affects a party that didn't want to be part of it.
indirect cost: Costs indirectly accountable to a cost object
intangible factor: Soft factors that are difficult to quantify.
natural capital: The extension of the economic notion of capital
policy instruments: Implements a society's policies
public-service functions: functions to benefit other species in an ecosystem
risk-benefit analysis: Putting risks towards the future than in the present
tangible factor: Something that is able to be touched, bought, and sold.
Questions:
What is meant by the term the tragedy of the commons?
The tragedy of the commons means the loss of resources due to over-exploitation.
Which of the following are the result of this tragedy?
A & B
(a) The fate of the California condor
(b) The fate of the gray whale
Cherry and walnut are valuable woods used to make fine furniture. Basing your decision on the information on the following table, which would you invest in?
(B) as is lasts longer making it a higher value.
Bird flu is spread in part by migrating wild birds. How would you put a value on (a) the continued existence of one species of these wild birds; (b) domestic chickens important for food but also a major source of the disease; (c) control of the disease for human health? What relative value would you place on each (that is, which is most important and which least)? To what extent would an economic analysis enter into your valuation?
(A)
Which of the following are intangible resources?
Which are tangible?
A-Intangible
B-Tangible
C-Tangible
D-Tangible
E-Tangible
What kind of future value is implied by the statement
“Extinction is forever”? Discuss how we might approach
providing an economic analysis for extinction.
The future value that is implied is that there will be no more of the thing that is becoming extinct having no future at all. Whether or not the species provide eco service or not is the approach of an economic analysis.
Which of the following can be thought of as commons
in the sense meant by Garrett Hardin? Explain your choice.
(a) Tuna Fisheries in the open ocean because the public is able to profit themselves with the amount of tuna they catch and sell or use for their own consumption instead of letting them have the chance to reproduce their population.