SUMMER VOCAB Flashcards
conservation
preservation of wasteful use of resources
preservation, protection, or restoration of the natural environment and of wildlife
preservation
the action of preserving something
restoration
the action of returning something to a former condition
reclamation
cultivation of waste land or land formerly under water
remediation
the action of remedying something in particular of reserving or stopping environmental damage
mitigation
the action of reducing the severity, seriousness, or painfulness of something
intrinsic value
maximum growth rate a population could sustain considering limiting factors
instrumental value
the value or worth of objects that provide a means to some desirable end, that satisfy some human needs and wants
natural capital
the world’s stocks of natural assets such as geology, soil, air, water, and all living things
natural resource
materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain
natural service
processes that occur naturally in nature that support life and human economies
anthropogenic
originating in human activity
true cost/full cost
economic model that includes the cost of negative externalities associated with goods and services
realized cost
the actual cost that is not based on the estimates provided in the standard cost
externality
a side effect or consequence of an industrial or commercial activity that affects other parties without this being reflected in the cost of the goods or services involved
