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15 Cards in this Set

  • Front
  • Back
What are the 3 assumptions of neo-classical economics?
1) Laissez Faire
2) All buyers and sellers have equal access to the market and are fully informed
3) Prices reflect all harmful costs to society and the environment
What are tariffs?
Taxes on imported goods
What are agglomeration effects?
One type of external economy.
What are backward linkages?
The process of a new company arriving in a region to supply a growing industry with supplies, components, services, and facilities.
Who first proposed central place theory?
W. Christaller, 1930's
What is central place theory?
A theory that seeks to explain the tendency for central places to be organized in hierarchical systems, analyzing the relative size and geographic spacing of towns and cities as a function of consumer behavior.
What is economic development?
The improvement in living standards by economic growth
What does GNP represent?
The market value of all goods and services produced within a country during a given year.
What are environmental externalities?
The unwanted byproducts of industrial processes.
Give one example of a modern frontier.
What is a Federal state?
A form of government in which significant power is given to smaller units of government within the state.
What is the estimated annual extinction rate before and after human-environment interaction?
.0001% and .1-1% per year, respectively.
What is the greatest threat to wild species?
Habitat fragmentation
What chemical is photochemical smog dominated by?
What is one consequence of ozone depletion?
An increase in skin cancer and cartaracts.