Environmental Economics And Environmental Policy

Front 1

Watershed

Back 1

All land from which water drains into a river.

Front 2

Economics

Back 2

study of how people decide to use resources.

Front 3

Economy

Back 3

a social system.

Front 4

Goods

Back 4

material commodities.

Front 5

Services

Back 5

Work done for others.

Front 6

Subsistence Economy

Back 6

social system that only meets basic needs.

Front 7

Capitalist Market Economy

Back 7

interaction between buyers and sellers determine what goods and services are produced.

Front 8

Centrally Planned Economies

Back 8

The Government determines how to allocate resources.

Front 9

Mixed Economies

Back 9

Hybrid system using both Central planned and Capitalist.

Front 10

Ecosystem Services

Back 10

Process of purifying air, water, soil.

Front 11

Adam Smith

Back 11

Scottish Economic Philosopher, Founder of classic economics.

Front 12

Neoclassical economics

Back 12

Explains market prices in terms of consumer preferences.

Front 13

Cost Benefit analysis

Back 13

total cost of proposed action compared to the sum of the benefits.

Front 14

External costs

Back 14

Costs that affect people other than buyer or seller.

Front 15

Steady State Economies

Back 15

Economies that do not grow or shrink.

Front 16

Greenwashing

Back 16

making something look as if it is good for the environment.

Front 17

Policy

Back 17

Formal set of general plans

Front 18

Public Policy

Back 18

rules made by Government for all people.

Front 19

Environmental Policy

Back 19

Rules that involve human interactions with the great outdoors.

Front 20

legislation

Back 20

a law

Front 21

Regulations

Back 21

specific rules aimed at something

Front 22

National Environmental Policy Act -NEPA

Back 22

Law created by President Nixon in 1970

Front 23

Environmental Impact Statement -EIS

Back 23

Report of studies conducted to assess impacts.

Front 24

Environmental Protection Agency - EPA

Back 24

Group that oversees water, air and solid waste policy.

Front 25

Customary law

Back 25

Long standing practices

Front 26

conventional law

Back 26

law that comes from a treat.

Front 27

North American Trade Agreement -NAFTA

Back 27

US and mexico trade agreement on the border.

Front 28

United Nations -UN

Back 28

Founded 1945 seeks to keep peace in all the earth

Front 29

World Bank

Back 29

Founded 1944 is the largest source of funding for economical development.

Front 30

European Union - EU

Back 30

Seeks to promote Europe's unity and environmental protection

Front 31

World Trade Organization -WTO

Back 31

Based in Geneva, Switzerland it promotes free trade.

Front 32

non-governmental organizations -NGO's

Back 32

Different large groups that focus on conservation objectives

Front 33

Command and control

Back 33

laws using probihitions or limits

Front 34

green taxes

Back 34

Reimbursement that was needed due to damage caused.

Front 35

polluter pays principle

Back 35

party that pollutes is responsible to pay all its impacts.

Front 36

permit Trading

Back 36

government create a market for environmentally harmful activities. Allowing company to buy and sell and trade this permits.

Front 37

Emissions Trading

Back 37

allows companies to emit some harmful gases

Front 38

Cap-and-trade

Back 38

Set amount and then sell permits to companies to allow fractions of pollution till the cap is met.

Front 39

ecolabeling

Back 39

when label tells how much was grown, harvested etc.