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MCQS of Environmental and welfare economics
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Nonrenewable resources are those for which there is no process of#replacement
All of these are branches of environmental economics EXCEPT:
#Riginal Economis
Some examples of renewable resources
#Solar energy, water, fish, forests, and animals
Social cost is equal to
#Private cost + external cost
A free rider is a person who
fails to produce goods but is allowed to consume goods
The level of production where marginal benefits equal marginal production costs, no matter to whom
those net benefits accrue is called
#Efficiency
The accidental oil or chemical spills in the river is an example of
#Accidental emmision
By slide ….. episodic
Municipal waste disposal is an example of
#point source
The process of returning some or all of the production or consumption residuals to be used again in
production or consumption
#Recycling
Which of the following is NOT a problem associated with environmental policy in developing nations?
#well-defined property rights
Which one of the following statements comparing developed and developing countries is false?
#Developing countries may have Ogreater choice about development paths
Which of the following terms describes the change in total cost due to producing one additional unit
of a good?
#Marginal cost
,The ________Is the cost associated with eliminating one unit of pollution.
#Marginal abatement cost
A crowded toll road is?
#a private good
A common resource is ?
#none of above
The objective of doing an environmental Impact Assessment is to
Identify the environmental
Consequences of development in advance
The criteria used to assess the value of the damages to an injured resource so that these amounts can
be recovered from those held is called
Cost effectivness analysis
What is the Equimarginal Principle?
It states that allocation of a fixed quantity of water is efficient when the benefit-cost ratio exceeds one
Net
As nations become wealthier, the average number of air pollutants tends to:
#decrease
As nations become wealthier, the average amount of of CO2 pollutants tends to:
# increase
, Mini Test Bank
Environmental Economic
and Natural Resources
MCQ questions:-
1-Which of the following is a renewable resource?
a-Petroleum. b-biological species. c-mineral ore. d-soil fertility.
2-What is environmental economics?
a-The branch of economics that studies how environmental and natural
resources are developed and managed.
b – The branch of economics that show how to exploit natural
resources as quickly as possible.
c-The psychological study of relations hip between humans and
natural resources.
d-All above answers are correct.
3-Which of the following answers applies to renewable natural
resources?
a-Once the renewable natural resource is used , is gone forever.
b-Renewable resources can be replenished.
c-renewable resources are costly to extract.
d- renewable resources can be, harvested at any rate without
harming future supplies.
4- Which of the following answers is non-renewable natural resource?
a-Fish and cattle. b-Petroleum .
, c-human resources. d-All answers are correct.
5-Why study environmental economics?
a-Studying environmental economics to bring harmony to the
economic system and the environment.
b- Studying environmental economics to bring harmony to the
economic system and political system.
c- Studying environmental economics to bring harmony to find
harmony with oneself.
d- Studying environmental economics to find harmony with other
people.
6- When economists say a product has high cost for a good ,what does
this mean ?
a-Good is available in large quantities to the market.
b-A monopoly is supplying the good.
c- Demand is very high relative to supply.
d-All answers are correct.
7- Non-storable (or environmental resources) are characterized by all of that
except:
a- often indivisible b- inexhaustible
c- Time and management relevant only to consumption
d- Time and management relevant to supply.
8- Sustainable development refers to :
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