EVR 1001 chapter 5 – Questions with Correct Answers
1. external costs What costs are associated with transactions that can result in
damage to the environment, human health, and property?
2. steady-state economies that A distinguishing feature of ecological economics is the concept
neither grow nor shrink of .
3. ecological economists Which of the following groups advocates economies that neither
grow nor shrink but remain stable?
4. Ecological economics What type of economic discipline maintains that society, like
natural populations, cannot surpass environmental limitations?
5. comes from the sciences, According to the figure, the basis for government policy regard-
with additional input from ing environmental issues .
the public and private sectors
6. Sustainable development involves meeting the needs of the present without
sacrificing the ability of future generations to meet their own
needs.
7. the price of a good or service What does the y-axis show?
8. the supply of a good or ser- What does the blue graph line represent?
vice
9. increases As the price of a good increases, the quantity of that good that
sellers are willing to supply to the market .
10. decreases As the price of a good increases, the quantity of that good that
buyers are willing to purchase .
11. when the supply of the prod- When does the equilibrium price of a product (good or service)
uct is equal to the demand for occur?
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, EVR 1001 chapter 5 – Questions with Correct Answers
the product
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1. external costs What costs are associated with transactions that can result in
damage to the environment, human health, and property?
2. steady-state economies that A distinguishing feature of ecological economics is the concept
neither grow nor shrink of .
3. ecological economists Which of the following groups advocates economies that neither
grow nor shrink but remain stable?
4. Ecological economics What type of economic discipline maintains that society, like
natural populations, cannot surpass environmental limitations?
5. comes from the sciences, According to the figure, the basis for government policy regard-
with additional input from ing environmental issues .
the public and private sectors
6. Sustainable development involves meeting the needs of the present without
sacrificing the ability of future generations to meet their own
needs.
7. the price of a good or service What does the y-axis show?
8. the supply of a good or ser- What does the blue graph line represent?
vice
9. increases As the price of a good increases, the quantity of that good that
sellers are willing to supply to the market .
10. decreases As the price of a good increases, the quantity of that good that
buyers are willing to purchase .
11. when the supply of the prod- When does the equilibrium price of a product (good or service)
uct is equal to the demand for occur?
1/9
, EVR 1001 chapter 5 – Questions with Correct Answers
the product
2/9
