ENVIRONMENTAL POLICY

the field of economics that recognizes the relationships between ecosystems and economic systems

• ecological economics
• economics
• environmental economics
• ecolabeling

a situation in which a free economy, operating on its own, does not distribute resources fairly

• non-market value
• cost-benefit analysis
• subsidy
• market failure

a formal set of general plans and principles that guide problem solving and decision making in specific instances

• environmental policy
• policy
• subsidy
• none of these

a tax levied on companies that participate in activities or produce products that are harmful to the environment

• green tax
• subsidy
• policy
• demand

an approach to environmental policy in which a government body sets rules and threatens punishment for violations

• subsidy
• green tax
• command-and-control approach
• lobbying

an approach to environmental policy in which a government body sets rules and threatens punishment for violations

• cap and trade

• cost benefit analysis

• non-market value

• command-and-control approach

efforts to influence an elected official into supporting a specific interest

• subsidy

• lobbying

• green tax

• ecolabel

it occurs when markets do not consider the environment's positive effects on economies, such as ecosystem services, or when they do not reflect the negative effects of economic activity on the environment or on people, such as external costs

• market failure

• non-market values

• cost-benefit analysis

• policy

a description of the effects a proposed project will have on the environment

• subsidy

• ecolabeling

• environmental impact statement

• command and control approach

the amount of a product offered for sale at a given price

• supply

• demand

• subsidy

• market failure