Development that meets the needs of the present without compromising the ability of future generations to meet their own needs
What is Sustainable Development?
100
It is based on actual observable choices
What is Revealed Preference Valuation?
100
The annual rate at which future benefits or costs are converted into current values
What is the Discount Rate?
100
It relates the growth to the stock of a resource
What is the Schaefer model?
100
A type of pollutant that has a short-term impact and then dissipates or is absorbed harmlessly into the environment.
What are Fund Pollutants?
200
Requirement that essential forms of natural capital are not being depleted
What is the strong form of sustainability?
200
It is a survey-based economic technique for the valuation of non-market resources.
What is Contingent Valuation?
200
It is the opportunity cost associated with the loss of future potential uses of a resource.
What is Marginal User Cost?
200
It is the harvest level that can be maintained without diminishing the resource stock.
What is Sustainable Yield?
200
A policy that limits the overall level of pollution and assigns individual, transferable pollution permits.
What is Cap and Trade policy?
300
Requirement that the wealth of a society, including human capital, social capital, manufactured capital, financial capital and natural capital, does not decline over time.
What is the weak form of sustainability?
300
It is used when the value is not directly observable
What is Stated Preference Valuation?
300
Time at which a depletable resource is being replaced by a (renewable) substitute.
What is the Switch Point?
300
A resource that is rivalrous but not excludable
What is a Common Pool Resource?
300
A per-unit tax set equal to the external damage caused by an activity.
What is a Pigou tax?
400
Environmental standards across countries get harmonized at a low level
What is the Race to the Bottom?
400
It uses information on how much visitors spent getting to a site.
What is Travel Cost Valuation?
400
It means that constant consumption can be maintained perpetually if all scarcity rent/profit is invested in capital.
What is the Hartwick Rule?
400
It is the harvesting interval that maximizes economic benefits
What is the Optimum Rotation Period?
400
A type of pollutant that accumulates in the environment.
What are Stock Pollutants?
500
Graph that shows an inverted U-shape relationship between pollutants and per capita GDP
What is the Environmental Kuznets curve?
500
It is a revealed preference method that decomposes the item being researched into its constituent characteristics.
What is Hedonic Pricing?
500
The price at which demand for a resource drops to zero.
What is the Choke Price?
500
It is the tendency for common property resources to be overexploited
What is the Tragedy of the Commons?
500
Pollutants that have different effects in different areas, depending on where they are emitted