Environmental Economics

Question 1

In 1994, who was the leading seller of carpet tiles? And who was it led by?

Answer 1

Interface Carpet/ Ray Anderson

Question 2

How many tons of landfill waste per day were created by making carpet?

Answer 2

6tons

Question 3

What did carpet production create?

Answer 3

Air and water pollution

Question 4

What epiphany did Ray have?

Answer 4

He can’t continue to consume more than the environment can renew.

Question 5

Land needed to provide resources and assimilate/absorb waste

Answer 5

Ecological foot print

Question 6

How is the ecological footprint of a population determined?

Answer 6

By size and the amount of resources used/person

Question 7

What must re realize about our resources?

Answer 7

They come from nature.

Question 8

If we are using our natural capital quicker than it’s being reproduced where will future income come from?

Answer 8

There won’t be any

Question 9

What is a method Interface used to become more sustainable?

Answer 9

Bio mimicry, they replaced glue with lizard technology

Question 10

What is biomimicry?

Answer 10

Replicate something that already occurs in nature

Question 11

Between 1994-2006 what changes did Interfere make

Answer 11

Efficient heating, solar tubes, skylights, tac tile adhesive, recycling carpet.

Question 12

What percentage did Interfaces fossil fuel and total energy decline by?

Answer 12

Energy = 43%.
Fossil fuel = 55%.

Question 13

How much waste was diverted from landfills due to recycling carpet?

Answer 13

100,000 tons

Question 14

What was Ray Anderson’s pathway to sustainability?

Answer 14

Eliminate waste
Benign emissions
Utilizing Renewable energy
Recycling
Efficient transportation
Sensitizing stakeholders
Redesigning commerce

Question 15

Can not be used for something else?

Answer 15

Use value

Question 16

Can be used in various ways?

Answer 16

Nonuse value

Question 17

Resources used directly?

Answer 17

Direct use value

Question 18

Resources used indirectly?

Answer 18

Indirect use value

Question 19

Our future possible use?

Answer 19

Option value

Question 20

Future generations possible use?

Answer 20

Bequest value

Question 21

Right of existence?

Answer 21

Existence value

Question 22

What percent of pharmaceutical drugs are derived from nature?

Answer 22

25%

Question 23

Meet present needs without preventing future generations from meeting their needs is ?

Answer 23

sustainable development

Question 24

Economic Discounting: Do we care more about the immediate benefits or do we give more weight to longer term benefits?

Answer 24

We care more about the immediate because the future is not promised.

Question 25

A third paryy gets the benefits or consequences but has nothing to do with the initial transaction

Answer 25

Externalities

Question 26

What happens when marketplace inefficiency occurs?

Answer 26

Market failure

Question 27

What causes market failure?

Answer 27

Imperfect knowledge, environmental externalities

Question 28

When prices that do not reflect the full cost of their transactions are generated?

Answer 28

Inefficienct transactions

Question 29

How can ecological market failure happen?

Answer 29

Does not have defined property rights
Users exploit the resource