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15 Cards in this Set
- Front
- Back
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What are the 3 assumptions of neo-classical economics?
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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 |
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What are tariffs?
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Taxes on imported goods
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What are agglomeration effects?
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One type of external economy.
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What are backward linkages?
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The process of a new company arriving in a region to supply a growing industry with supplies, components, services, and facilities.
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Who first proposed central place theory?
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W. Christaller, 1930's
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What is central place theory?
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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.
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What is economic development?
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The improvement in living standards by economic growth
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What does GNP represent?
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The market value of all goods and services produced within a country during a given year.
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What are environmental externalities?
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The unwanted byproducts of industrial processes.
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Give one example of a modern frontier.
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Antarctica.
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What is a Federal state?
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A form of government in which significant power is given to smaller units of government within the state.
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What is the estimated annual extinction rate before and after human-environment interaction?
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.0001% and .1-1% per year, respectively.
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What is the greatest threat to wild species?
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Habitat fragmentation
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What chemical is photochemical smog dominated by?
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Ozone
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What is one consequence of ozone depletion?
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An increase in skin cancer and cartaracts.
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