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Centrally Planned Economy
The government decides what is made, how it
is made, and who gets what
A process businesses use to analyze decisions
The amount of a product people will
buy at a given price
The practice of marking products with a label to show their manufacture meets recognized environmental standards
It applies the principals of Earths's systems?
Economics is studies of how people interact with things of value; the production, distribution, and consumption of goods and services
Says economies can become sustain-able if environmental challenges are addressed
Free Market Economy
Individuals decide what is made, how it is made,
and how much is made.
The result when a market does not reflect the full costs and benefits of actions
Both government and individuals play roles in
economic decision making
A value not usually included in the price of a good or service
The amount of a product offered for sale at a given price
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EIS (Environmental Impact System)
requires government agencies to evaluate the impact of a project, such as a new dam, highway, or building,
General plans that address the interactions between humans and the environment.
Formal set of general plans and principles for addressing problems and guiding decision making.
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Cap and Trade
In this system a government determines
the overall amount of pollution it will accept for a specific permit
Command and Control Approach
a government body sets rules and threatens punishment for violations.
Taxes imposed on companies that produce products that are harmful to the environment
Involves efforts to influence an elected official into
supporting a specific interest.
Subsidy is a giveaway of cash or resources that is intended to encourage a particular activity or lower the price of a product.