HW 4 Terms Flashcards
1
Q
the cost imposed on one period for using the marginal unit of the resource another period
A
Scarcity rent
2
Q
The cost imposed on one period From using a unit of the resource in another period
A
User cost
3
Q
Future generations should be left no worse off than the current generation 
A
Sustainability
4
Q
A constant level of consumption could be maintained perpetually if physical and natural capital are perfect substitutes and all scarcity rent from use of natural capital is invested in physical capital 
A
Weak sustainability
5
Q
Maintaining the value of the stock of natural capital between generations 
A
Strong sustainability 
6
Q
Can potentially be supplied forever 
A
Renewable resource
7
Q
Fixed and known stock of the resource, will eventually run out
A
Non- renewable resource
