Cnonservation Exam 2 Flashcards
Define: Ecological Economics
imerging discipline that studies the interaction between economics and ecological systems
Define: Externalities
hidden costs or benefits (can be negative or positive)
Tradgedy of the Commons
Others become more willing to wrong this if they see it being done
How do economics use ‘discount rates’
The can argue that something is worth alot now, so invest now rather then later
This should be applied to ensure their is no harm done to the enviroment
Precautionary principles
G.D.P
Gross Domestic Product –> index of national production, but it does not take into account the enviromental costs
e.g BP Oil Spill - was a time of economic boom (jobs created), but was horrible environmental event
- THREE LEVELS OF VALUE *
- Harvest Value
- Un-harvested Value (e.g Tourism)
- Future Value (breeding program)
Define:Consumptive Use Value
local use: Medicines, food source, etc
Define: Substitution Cost
Value of to replace something such as bush meat (how much would it cost to replace that food source)
Define: Productive Use Value
harvested in wild but sold in market
What is the Value of the Worlds Ecosystem
33 Trillion Dollars, (World GDP is 18 trillion) (wetlands and coastal areas are valued at 18 trillion)
Wetlands is highest valued environment
Humans use what percent of terrestrial productivity?
40%!!
Importance of wetlands
valued at 2.4 trillion a year in damage control
-helps to break down storms that are inland bound
Amenity Value
Enjoyment value
Eco-tourism (pros + cons)
PROS- brings in over 600 billion dollars a year
Cons- not much of that money stay in that area, also not always eco-friendly
