Market failures are situations where ...

market forces do not automatically lead to optimal results

How do we turn a renewable resource into an exhaustable resource?

By harvesting more of it than it's natural yield

In the economy, we must realize that any resource will become waste at one time.

True, at harvesting, production ánd consuming everything.

Why do we consider biomass as a low-carbon energy? Cars on biofuels DO emit greenhousegasses...

Organic matter will decompose anyway, emit ghg's anyway.

See an abataement function below. What causes it to move left or right as a whole?

A technological breakthrough makes abatement cheaper.

The capability of nature to take wastes and convert them back into harmless/useful products is

Nature's assimilative capacity.

geothermal energy works like this: we drill a hole and...

send water down to the hot layers, it comes back as steam.

The marginal damage function can move up or down as a whole, e.g. when...

we realize, through research, more effects of pollutants

Negawatts, or efficiency, is not a renewable per se, but still it's cleaner 'energy' because...

NRG not used has not been produced, so has no footprint

Energy from which renewable would you choose to have the cleanest possible society?

ALL, coz then we always have some available.

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Enviro Econ first Quiz

14 termsStudBud Administration41 plays

basics of Environmental Economics

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Questions 14

Answers

1
Which of below pollutants is probably most toxic?
The one in graph c
The one in graph d
The one in graph b
The one in graph a
2
Market failures are situations where ...
free markets typically are not free enough to be effective
market forces do not automatically lead to optimal results
markets are too free so they think only about money
markets are centrally governed, ineffective like a monopoly
3
How do we turn a renewable resource into an exhaustable resource?
By harvesting more of it than it's natural yield
By protecting it better from unsustainable practices.
By protecting exhaustable rresources more carefully.
By harvesting it less than it's natural regrowth rate.
4
In the economy, we must realize that any resource will become waste at one time.
Untrue, recycling stops resources from becoming waste.
True, at harvesting, production ánd consuming everything.
Untrue, Used packaging can be used as a fuel for heating
True, waste is essential to recycle resources more.
5
Why do we consider biomass as a low-carbon energy? Cars on biofuels DO emit greenhousegasses...
Plants absorb biofuels while growing.
Biofuels are less toxic, so transport is safer.
the emissions themselves are cleaner than with fossil fuels.
Organic matter will decompose anyway, emit ghg's anyway.
6
See an abataement function below. What causes it to move left or right as a whole?
A technological breakthrough makes abatement cheaper.
More abatement is typically cheaper coz of discounts
Reducing emissions gets cheaper over time.
A news report exposes the damages caused by this pollutant.
7
The capability of nature to take wastes and convert them back into harmless/useful products is
The conversion rate.
The recycling rate.
Nature's assimilative capacity.
The nutrient cycle.
8
public goods are distinguished from private goods by their...
nonrivalry & nonexcludability
nonchivalry & nonexcludabilithekiddy
nonexclusivity & nonrefundability
exclusivity & irreversibility
9
geothermal energy works like this: we drill a hole and...
send water down to the hot layers, it comes back as steam.
pump water down, oil comes up easier
send water down, hot lava comes back up.
send chemicals down for hydraulic fracturing (aka fracking)
10
Environmental degradation is most often caused by which market failure?
inappropriate government intervention
public goods & externalities
inappropriate government interaction & externalities
Public goods & inappropriate government intervention
11
The marginal damage function can move up or down as a whole, e.g. when...
we realize, through research, more effects of pollutants
we emit more pollutants and more people get sick.
we emit the same amount of pollutants but it's winter now
we emit less pollutants but more toxic, so more morbidity
12
Negawatts, or efficiency, is not a renewable per se, but still it's cleaner 'energy' because...
NRG not used has not been produced, so has no footprint
NRG not used has been stored and was produced in low-demand.
Energy losses are non-existant with negawatts
Thermal NRG (heat) is less valuable than electricity.
13
Opponents to renewables say they are unreliable, but they actually mean? That renewables are...
intermittent
weak
expensive
superfluous
14
Energy from which renewable would you choose to have the cleanest possible society?
wind, coz: use it or lose it.
ALL, coz then we always have some available.
biomass, coz biofuels fit in existing infrastructure.
solar, coz it's so abundant.

Enviro Econ first Quiz Flashcards | StudBud