Env Sci Chapter 2: Environment & Economics Policy

What is the study of the production and consumption of scarce resources and the way they affect behavior?

• Ecology

• Geography

• Economics

• Sociology

Which of the following refers to manufactured materials and products?

• Services

• Goods

• Resources

• Ecology

What term describes work that someone does for others?

• Goods

• Services

• Economics

• Production

What is the definition of supply?

• The amount of a resource available

• The amount of product people will buy at a given price

• The price at which a product is sold

• The cost of producing a product

What is the definition of demand?

• The amount of a resource available

• The amount of product people will buy at a given price

• The price at which a product is sold

• The cost of producing a product

What happens to prices when demand is high?

• Prices drop and production slows down

• Prices remain the same

• Prices increase and production speeds up

• Prices decrease and production speeds up

What is the primary purpose of a cost-benefit analysis?

• To estimate the strengths and weaknesses of alternatives before implementing them

• To determine the cost of a project

• To calculate profit margins

• To analyze market trends

Tags

NGSS.HS-ESS3-2

NGSS.HS-ETS1-3

How does economics relate to environmental decisions?

• It is unrelated

• It only affects financial markets

• It comes into play in every environmental decision

• It is only important for large corporations

Tags

NGSS.HS-ESS3-1

NGSS.HS-ESS3-2

What role do natural resources play in economics?

• They are not necessary for economic production.

• They are only used for recreational purposes.

• They are essential for producing our goods.

• They are only important for cultural reasons.

Tags

NGSS.MS-PS1-3

What is one of the services provided by ecological systems?

• They increase pollution levels.

• They purify air and water.

• They deplete natural resources.

• They produce waste.