The Environment
What is Ecology?
Science of the interrelationships among organisms and their environments
What are Ecosystems?
Refers to a total ecological community, both living and nonliving.
What is the Free Rider Problem?
The burden on a shared resource that is created by its use or overuse by people who aren't paying their fair share for it, or who aren't paying anything at all.
What are the three distinct approaches to environmental protection?
Regulations, the use of incentives and the use of pricing mechanisms.
What is global environmental fairness?
Needing to consider our obligations to those who live outside our society.
What is an example of an ecosystem?
Freshwater, grassland, desert, tundra
What is the right to livable environment?
Each person has the right to a clean, healthy and sustainable environment.
What is the regulatory approach?
Makes use of direct public regulation and control in determining how the pollution bill is paid.
What is Ecological Economics?
Attempting to expand further boundaries of environmental cost benefit analysis by calculating the value of an ecosystem in terms of what it would cost to provide the benefits and services it now furnishes us.
How can a business affect an ecosystems negatively?
Polluting air, water or soil. Greenhouse gas emissions, improperly disposing of their products.
What is a cost benefit analysis?
Is a deceive used to determine whether it's worthwhile to incur a particular cost, for instance, the cost of employing a particular pollution control device.
Used to evaluate a projects direct and indirect costs and benefits
What is the incentive approach?
What are pricing mechanisms?
Spell out the cost for a specific kind of pollution, putting a price amount note for the damage cause in a specific place or time.
How can a business affect an ecosystems positively?
They can promote ecofriendly companies such as transportation or using renewable resources.
What is an example of a Free Rider Problem?
People that don't pay for public transportation such as a train
Someone going to enjoy day at a clean beach, but someone else picks up all the trash
What is one disadvantage for regulations towards environmental goals?
Regulation can take away an industry's incentive to do more than the minimum required by law.
What does EPA stand for?
Enviromental Protection Agency
What is a company that does not impact an ecosystem positively?
Shein with each item being in the little bag, Amazon because of fast shipping which leads to carbon emmissions.
Who should pay the cost for the pollution if nobody is held accountable?
Those responsible for causing the pollution or those who stand to benefit from protection and restoration
What is an advantage of the incentive approach?
Allowing firms to move at their own pace, it avoids the evident unfairness to firms that cannot meet regulatory standards and must either relocate or fail.