Development that meets the needs of the present without compromising the ability of future generations to meet their own needs
What is Sustainable Development?
1
It is based on actual observable choices
What is Revealed Preference Valuation?
1
The annual rate at which future benefits or costs are converted into current values
What is the Discount Rate?
1
It relates the growth to the stock of a resource
What is the Schaefer model?
1
A type of pollutant that has a short-term impact and then dissipates or is absorbed harmlessly into the environment.
What are Fund Pollutants?
2
Requirement that essential forms of natural capital are not being depleted
What is the strong form of sustainability?
2
It is a survey-based economic technique for the valuation of non-market resources.
What is Contingent Valuation?
2
It is the opportunity cost associated with the loss of future potential uses of a resource.
What is Marginal User Cost?
2
It is the harvest level that can be maintained without diminishing the resource stock.
What is Sustainable Yield?
2
A policy that limits the overall level of pollution and assigns individual, transferable pollution permits.
What is Cap and Trade policy?
3
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?
3
It is used when the value is not directly observable
What is Stated Preference Valuation?
3
Time at which a depletable resource is being replaced by a (renewable) substitute.
What is the Switch Point?
3
A resource that is rivalrous but not excludable
What is a Common Pool Resource?
3
A per-unit tax set equal to the external damage caused by an activity.
What is a Pigou tax?
4
Environmental standards across countries get harmonized at a low level
What is the Race to the Bottom?
4
It uses information on how much visitors spent getting to a site.
What is Travel Cost Valuation?
4
It means that constant consumption can be maintained perpetually if all scarcity rent/profit is invested in capital.
What is the Hartwick Rule?
4
It is the harvesting interval that maximizes economic benefits
What is the Optimum Rotation Period?
4
A type of pollutant that accumulates in the environment.
What are Stock Pollutants?
5
Graph that shows an inverted U-shape relationship between pollutants and per capita GDP
What is the Environmental Kuznets curve?
5
It is a revealed preference method that decomposes the item being researched into its constituent characteristics.
What is Hedonic Pricing?
5
The price at which demand for a resource drops to zero.
What is the Choke Price?
5
It is the tendency for common property resources to be overexploited
What is the Tragedy of the Commons?
5
Pollutants that have different effects in different areas, depending on where they are emitted