Business and Environmental Sustainability

The Triple Bottom Line approach involves measuring business success of sustainable businesses and sustainable economic development in terms of ( ).

• economic, legal, and environmental sustainability.

• economic, ethical, and environmental sustainability.

• economic, legal, and competitive sustainability.

• legal, competitive, and environmental sustainability.

Knowing what the future must be, creative businesses then look backwards to the present and determine what must be done to arrive at that future. This process is known as ( ).

• backward integration.

• forecasting.

• forward integration.

• backcasting.

Which of the following is true of the conservation movement?

• It advocated that the natural world should not be used as a capital resource.

• It regarded natural resources as being able to provide an inexhaustible supply of material.

• It recommended a more restrained and prudent approach to the natural world.

• It argued against the natural world being used to provide indirect benefits

Which of the following is involved in environmental problems according to the market-based approach to resolving environmental challenges?

• Lack of knowledge of producing renewable resources

• Inability of businesses to produce and sell limited resources

• Lack of use of appropriate substitutes for limited resources

• Allocation and distribution of limited resources

In economic terms, all resources ( ).

• are infinite because they can be replaced by substitutes.

• are distributed fairly by the government.

• can be made available everywhere.

• are distributed efficiently in the market.

Which of the following explains the statement "All resources are fungible"?

• It means that all resources can be regulated by the government.

• It means that all resources can be replaced by substitutes.

• It means that all resources cannot be duplicated.

• It means that all resources cannot be recycled and reused.

Which of the following is true about the market-based approach to environmental responsibility?

• Market failure occurs when no markets exist to create a price for important social goods.

• Free market exchanges can guarantee optimal results for addressing issues related to externalities.

• The market-based approach always ensures that what is good and rational for a collection of individuals is also good and rational for a society.

• Markets can be very successful if important ethical and policy questions and policy decisions are left solely to the outcome of individual decisions.

Which of the following ways can lead market failure to serious environmental harm?

• Creating abundant markets to create a price for important social goods

• Making no distinction between individual decisions and group consequences

• Inexistence of externalities in the economic exchange system

• Assigning property rights to unowned goods

Which of the following ways can lead market failure to serious environmental harm?

• Creating abundant markets to create a price for important social goods

• Making no distinction between individual decisions and group consequences

• Inexistence of externalities in the economic exchange system

• Assigning property rights to unowned goods

Which of the following is true about the concept of sustainable development and sustainable business practice?

• It suggests a radically new vision for integrating financial and environmental goals, compared to the growth model that preceded it.

• According to this concept, only individuals who can prove that they had been harmed by pollution can raise legal challenges.

• According to this concept, an economic solution to compensation should be offered for the harm only after the harm has been done.

• It focuses only on the costs that businesses incur in pursuing environmental goals.