1. What is meant by the term the tragedy of the commons? Which of the following are the result of this tragedy?
C. The high price of walnut wood used in furniture
2. What is meant by risk-benefit analysis?
Comparing the risk and the benefits of an action
3. Cherry and walnut are valuable woods used to make fine furniture. Basing your decision on the information in the following table, which would you invest in?
B. a walnut plantation
4. a) I will put a value in it by the popularity of the birds and it will bring more tourism
b) more money would be made
c) the value is how the disease is spread and how deadly it is
5. Which of the following are intangible resources? Which are tangible
Intagible: the view of ,punt wilson in California
Clean air
Tangible: A road to the top of mount wilson
Porpoises in the ocean
Tuna in the ocean
6. What kind of future value is implied by the statement "Extinction is forever"?
That no matter what if something is extinct it will stay extinct and there will be no more value to that thing
7. a) Tuna fisheries in the open ocean
people benefit in catching fish and dont let them reproduce
Commons- Land owned publicly, with public access for private uses
Direct Costs-Costs carried by the producer in obtaining, processing and distributing a product
Environmental Economics- how to persuade people, organizations and society to act in a way that benefits the environment
Externality- indirect cost, something that is not recognized by producers as part of the cost or benefit
Indirect Cost- externality, something that is not recognized by producers as part of the cost or benefit
Intangible Factor- A factor you cannot touch directly, but is valued.
Natural Capital-Ecological systems that provide benefits
Policy Instruments-What people do, what people can do, and how people do it
Public-Service Functions-A complicating factor in maintaining clean air, soil and water, and sustaining renewable resources is that ecosystems do these without our help.
Risk-Benefit Analysis-Riskiness of a present action in terms of possible outcomes is weighed against the benefit.
Tangible Factor-A factor you can touch,buy and sell.
C. The high price of walnut wood used in furniture
2. What is meant by risk-benefit analysis?
Comparing the risk and the benefits of an action
3. Cherry and walnut are valuable woods used to make fine furniture. Basing your decision on the information in the following table, which would you invest in?
B. a walnut plantation
4. a) I will put a value in it by the popularity of the birds and it will bring more tourism
b) more money would be made
c) the value is how the disease is spread and how deadly it is
5. Which of the following are intangible resources? Which are tangible
Intagible: the view of ,punt wilson in California
Clean air
Tangible: A road to the top of mount wilson
Porpoises in the ocean
Tuna in the ocean
6. What kind of future value is implied by the statement "Extinction is forever"?
That no matter what if something is extinct it will stay extinct and there will be no more value to that thing
7. a) Tuna fisheries in the open ocean
people benefit in catching fish and dont let them reproduce
Commons- Land owned publicly, with public access for private uses
Direct Costs-Costs carried by the producer in obtaining, processing and distributing a product
Environmental Economics- how to persuade people, organizations and society to act in a way that benefits the environment
Externality- indirect cost, something that is not recognized by producers as part of the cost or benefit
Indirect Cost- externality, something that is not recognized by producers as part of the cost or benefit
Intangible Factor- A factor you cannot touch directly, but is valued.
Natural Capital-Ecological systems that provide benefits
Policy Instruments-What people do, what people can do, and how people do it
Public-Service Functions-A complicating factor in maintaining clean air, soil and water, and sustaining renewable resources is that ecosystems do these without our help.
Risk-Benefit Analysis-Riskiness of a present action in terms of possible outcomes is weighed against the benefit.
Tangible Factor-A factor you can touch,buy and sell.