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Environmental Economics Quiz

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1. What is the Tragedy of the Commons?

2. What is an externality in environmental economics?

3. What is the purpose of environmental impact assessments (EIAs)?

4. What does the concept of 'sustainability' mean in environmental economics?

5. Which economic principle underpins the concept of 'Cap and Trade'?

6. What is the primary goal of environmental regulations?

7. What is the 'polluter pays' principle?

8. What role do property rights play in environmental economics?

9. How does the market fail to effectively allocate resources in the presence of externalities?

10. What is the main advantage of using economic incentive-based regulations over command-and-control regulations in environmental policy?