Section 1: Intro

Question 1

Name the 5 characteristics of ecological economics

Answer 1

1. Strong Sustainability
2. Equity
3. Limits to growth
4. Human behaviour
5. Interdisciplinary

Question 2

Environmental economics is concerned with ___ and ___

Answer 2

Wastes and amenities

Question 3

Ecological economics views the relationship between ____ and ____

Answer 3

Economy and environment

Question 4

Define economics

Answer 4

Economics is understanding the processes that govern production, distribution, and consumption of goods and services

Question 5

Name 3 characteristics of neoclassical economics

Answer 5

1. Supply, demand, and equilibrium (efficiency)
2. Aims to be descriptive
3. Not normative

Question 6

Name 2 characteristics of welfare economics

Answer 6

1. Normative extension of neoclassical economics

2. Concerned with well-being and distribution (equity)