The Environment and Income Inequality Flashcards
Name 7 ways the government can reduce environmental damage.
Subsidies Environmental agencies Compensation Regulation Taxation International targets Recycling
How does government regulation help reduce environmental damage?
Laws, legislations and permits can be put in place to limit the amount of environmental damage firms can make
How do environmental agencies help reduce environmental damage?
Responsible for imposing fines on businesses that fail to abide by laws/regulations
Also provide advice and support
In what 2 ways does taxation help reduce environmental damage?
Taxes imposed on those who damage the environment
Helps balance social cost by placing it on those responsible
How do subsidies help reduce environmental damage?
Grants and tax allowances act as incentives for companies to become more environmentally friendly
How does compensation help reduce environmental damage?
Paid to people affected by environmental damage
How do international targets help reduce environmental damage?
Agreements focused on globally reducing pollution targets held by groups like the UN
Name 4 other methods the government uses to reduce environmental damage.
Pollution permits
Road tax
Congestion charges
Provision of parks
How do pollution permits reduce environmental damage (2 steps)?
Puts physical quota on how much pollution companies can expel
Money transacted when buying permits can be reinvested into the environment
How does road tax help reduce environmental damage?
Aims to limit the use of cars and promote the use of public transport
How do congestion charges help reduce environmental damage?
Placed to limit the amount of air/noise pollution
How does the provision of parks help reduce environmental damage?
Helps increase number of trees and greenery - especially within urban environments
Define ‘absolute poverty’.
Conditions where household income is insufficient to afford basic necessities of life (food, clothing and shelter)
Define ‘relative poverty’.
When households receive less than 60% of the average median income as their income
Define ‘income inequality’.
The differences in income that exist between different groups of individuals in the economy
