Ecosystem Services
The service that is more like an intermediate ecosystem process.
What is a supporting ecosystem service?
Amount of final goods produced in a year.
What is GDP?
The difference between WTP and what people actually pay.
What is consumer surplus?
A measure of inequality that uses a 0-1 scale.
What is the Gini index?
The uncompensated impact of one person's actions on a third party.
What is an externality?
Ecosystem service is like what type of economic good?
What is a final good?
Asset value of manufactured, natural, and human capital.
What is inclusive wealth?
The difference between WTP and the cost to society of a good.
U.S. income inequality today is similar to what it was in the _____.
What is the 1930's?
An approach to valuation that compares the prices of quality-differentiated goods.
What is the hedonic method?
A reduction in the value or amount of an ecosystem service.
What is depreciation or damages?
The value of inclusive wealth is increasing.
What is weak sustainability?
This is the info you need to calculate consumer surplus.
What is quantity, price and choke price/demand curve?
This is achieved when there is a fair distribution of resources.
What is economic equity?
The idea that environmental regulations spur innovation and increase profits.
What is the Porter hypothesis?
Two ways to measure the asset value of ecosystem services.
What are the price x quantity and sum of income approaches?
National income adjusted for depreciation.
What is NDP?
The reduction in social surplus when the market is inefficiently allocating a good.
What is deadweight loss?
The share of income in U.S. going to top 10%.
What is about 45%?
This type of regulation is expected to be cost effective.
What is an emissions tax or tradable permit?
The name for the asset value of ecosystem services.
What is natural capital?
This tracks a country's income sources.
What is an income account?
A welfare-increasing change that leaves no one worse off.
What is a Pareto improvement?
The idea that income inequality worsens before it gets better as an economy grows.
What is the Kuznets curve?
This describes the relationship between income, capital, labor and technology.
What is a production function?