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EC238 Test Bank - Quiz Bank
Environmental Economics
Chap 1_4ce Student:
1.
A(n) in the economic world is something that leads people to channel their production and consumption efforts in a specific direction. A. moral obligation B. economic incentive C. property right D. ethical motive
2.
Any economic system will produce destructive environmental impacts if the are not structured to avoid them. A. ethics B. prices C. property rights D. incentives
3.
A small coastal community with the power to control access to its scallop fishery is an example of . A. common property rights B. private property rights C. an open access resource D. a positive externality
4.
A common pasture on which anyone is allowed to freely graze sheep or cattle is an example of . A. private property rights B. an open access resource C. common property rights D. community property rights
5.
The level of pollution can be negotiated privately based on property rights when only a few parties are involved and the source, amount and type of pollution is clearly identifiable. A. cost-effective B. zero-emissions C. fair D. socially efficient
6.
When you enjoy the view of your neighbour's prize-winning garden, this is an example of A. common property rights B. a positive externality C. a negative externality D. a public good
7.
When we drive our cars, we get the of transportation services, while others experience the detrimental effects such as pollution and congestion which environmental economists refer to as a(n) . A. positive externality; negative externality B. direct benefit; opportunity cost C. direct benefit; negative externality D. positive externality; opportunity cost
within the system
.