Unit 5 Review

Examining the cost and the expected benefits of a choice is an aid to decision making

• Trade-off
• Cost-benefit analysis 
• Marginal Cost 
• Marginal Benefit

"Energy Star," "USDA Organic," and "Fair Trade Certified" are all examples of:

• Ecolabelling
• Ecosystems
• Non-Market Values
• Market Failure

In making environmental policies, government interacts with:

• Organizations
• Businesses
• Citizens
• All of the above

A law that prohibits dumping wastes into the ocean and punishes people who dump wastes demonstrates which approach to environmental policy?

• Green Tax
• Command-and-Control
• Cap-and-Trade
• Subsidy

The first step of the environmental policy process is to:

• Guide the solution to law
• Identify the problem
• Get organized
• Gain access to policymakers

TRUE or FALSE: All economies depend on the environment.

• True
• False

TRUE or FALSE: In the United States, the strength of environmental policy is constant from state to state.

• True
• False

What is represented by the line that slopes down toward the right?

• The Demand Curve
• The Supply Curve
• Equilibrium
• Time

What is represented by the line that slopes up toward the right?

• The Demand Curve
• The Supply Curve
• Equilibrium
• Time

What is represented by the point where the two sloping lines intersect?

• The Demand Point
• The Supply Point
• Equilibrium
• Time