Chapter 23 Notes

Chapter 23 Notes - Chapter 23, Ecological Economics Major...

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Chapter 23, Ecological Economics Major Questions: 1. What is the difference between classical/neoclassical and environmental economics? 2. What is the relationship between supply, demand and prices 3. What is the difference between internal and external costs? What is an externality and why does it matter? 4. How can we evaluate economic growth? Does economic growth measure improvements in human welfare? 5. What is the tragedy of the commons and how does it relate to use of resources? NOTE FOR THIS CHAPTER: The sections on limits to growth and carrying capacity depend on definitions that we will cover in our discussions of population. For now, read these sections and begin thinking about the issue (e.g. to what degree can technology alleviate or mitigate resource constraints?). You won’t be responsible for that part of the material in the chapter on the exam but this is an important question to be thinking about for the future. Resource Types: Capital is any form of wealth available to produce more wealth. - Natural - Human / Cultural - Manufactured - Social Resource - Anything with potential use in creating wealth or giving satisfaction. Nonrenewable resource s - Materials present in fixed amounts in the environment. Renewable resources
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Chapter 23 Notes - Chapter 23, Ecological Economics Major...

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