PLCY 110 FINAL EXAM STUDY GUIDE
Absolute Advantage - Answers - The ability of an individual, firm, or country to produce
more of a good or service than competitors using the same amount of resources.
Anthropogenic global warming - Answers - Global warming originating in human activity,
especially through Carbon Dioxide emissions.
Availability Heuristic - Answers - A mental shortcut that relies on immediate examples
that come to a given person's mind when evaluating a specific topic, concept, method or
decision.
Cap and Trade - Answers - A system for controlling carbon emissions and other forms of
atmospheric pollution by which an upper limit is set on the amount a given business or
other organization may produce but which allows further capacity to be bought from
other organizations that have not used their full allowance.
Chapter VII of the UN Charter - Answers - Allows the security council to determine the
existence of any threat to peace, breach of the peace, or act of aggression and to take
military and nonmilitary action to restore international peace and security.
Comparative advantage - Answers - The ability of an individual, firm, or country to
produce a good or service at a lower opportunity cost than other producers.
compensation principle - Answers - Difficult to compensate appropriately the losers of
trade liberalization.
Economic (welfare) rights - Answers -
Enforcement - Answers - Examples of enforcement include: Non-Coercive diplomacy,
economic sanctions, military intervention, and prosecution of the individual through
means such as truth commissions, universal jurisdictions, and the ICC.
Externalities - Answers - An unintended by product of activity that is imposed on others.
Excludable and rival - Answers - Excludable: Goods that can be kept from a certain
group of people. Examples include Private Goods and Club Goods. Rival: Goods that
people compete in order to be able to use. Examples include Private Goods and
Common Goods.
Free riders - Answers - When people take advantage of being able to use a common
resource, or collective good, without paying for it.
Genocide - Answers - The deliberate killing of a large group of people, especially those
of a particular ethnic group or nation.
Absolute Advantage - Answers - The ability of an individual, firm, or country to produce
more of a good or service than competitors using the same amount of resources.
Anthropogenic global warming - Answers - Global warming originating in human activity,
especially through Carbon Dioxide emissions.
Availability Heuristic - Answers - A mental shortcut that relies on immediate examples
that come to a given person's mind when evaluating a specific topic, concept, method or
decision.
Cap and Trade - Answers - A system for controlling carbon emissions and other forms of
atmospheric pollution by which an upper limit is set on the amount a given business or
other organization may produce but which allows further capacity to be bought from
other organizations that have not used their full allowance.
Chapter VII of the UN Charter - Answers - Allows the security council to determine the
existence of any threat to peace, breach of the peace, or act of aggression and to take
military and nonmilitary action to restore international peace and security.
Comparative advantage - Answers - The ability of an individual, firm, or country to
produce a good or service at a lower opportunity cost than other producers.
compensation principle - Answers - Difficult to compensate appropriately the losers of
trade liberalization.
Economic (welfare) rights - Answers -
Enforcement - Answers - Examples of enforcement include: Non-Coercive diplomacy,
economic sanctions, military intervention, and prosecution of the individual through
means such as truth commissions, universal jurisdictions, and the ICC.
Externalities - Answers - An unintended by product of activity that is imposed on others.
Excludable and rival - Answers - Excludable: Goods that can be kept from a certain
group of people. Examples include Private Goods and Club Goods. Rival: Goods that
people compete in order to be able to use. Examples include Private Goods and
Common Goods.
Free riders - Answers - When people take advantage of being able to use a common
resource, or collective good, without paying for it.
Genocide - Answers - The deliberate killing of a large group of people, especially those
of a particular ethnic group or nation.
