Level 15
Level 16

New Scarcity & Deep Ecology

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Diversity is valuable
Biocentric flourishing requires a reduction in human population
Current human interference is excessive and getting worse
Dramatic change is necessary
Quality of life is more important than Standard of living
A specific form of cultural diffusion in which a subordinate culture adopts many of the cultural traits of a more powerful culture.
accurate (fan shaped) Delta
The land around the river mouth arches out into the sea and the river splits many times on the way to the sea, creating a fan effect.
Bar Charts and Activity Networks
Graphical notations used to illustrate the project schedule.
Reluctant Holism
Shallow Ecology
>conserve the natural world
Acid deposition
Process by which acidic particles, gases and precipitation leave the atmosphere.
Tax authority is the state
We can never have all we want of every goods and service.
A basic requirement for survival
A way of expressing or communicating a need
China, India, US
List the three most populous countries in the world.
Give example of Capital
plasticlike layer of the Earth's surface below the lithosphere
Land, Labor, Capital, and Entrepreneurship
What are the 4 factors of production?
central place theory
Theory proposed by Walter Christaller that explains how and where central places in the urban hierarchy should be functionally and spatially distributed with respect to one another.
Why is there no such thing as a free lunch?
If someone treats me to a free lunch then it still costs them money. So even though its free for me its not free for them
a material that can be used to produce crops or other products
opportunity cost
amount of money lost when choosing to do one action instead of another
rational decision
decision that best serves the objectives of the decision maker, whatever those objectives may be
goods and services produced by a firm or economy
used bya firm or an economy; labor, raw materials, electricity and other resources it uses to produce its outputs
production possibilities frontier
shows the different combinations of various goods that a producer can turn out given the available resources and existing technology
principle of increasing costs
states that as the production of a good expands, the opportunity cost of producing another unit generally increases
The total amount of living tissue, usually measured in grams, within a given trophic level
allocation of resources
refers to the society's decisions on how to divide up its scarce input resouraces among the different outputs produced in the economy and among the different firms or other organizations that produce those outputs
comparative advantage
situation where a country produces goods more efficiently than another country (relative to other goods)
market system
form of economic organization in which resource allocation decisions are left to individual producers and consumers, acting in their own best interests without central direction
decision made from a set of alternatives
capital good
resources used in production process
The physical improvement resource
chemical rock
Sedimentary rock formed from dissolved chemicals that evaporate and leave behind a solid (rock salt left behind when salt water that evaporates).
The process that transforms scarce resources into useful goods and services.
inputs or resources
Anything provided by nature or previous generations that can be used directly or indirectly to satisfy human wants.
Goods and services of value to households.
theory of comparative advantage
Ricardo's theory that specialization and free trade will benefit all trading parties, even those that may be "absolutely" more efficient producers.
absolute advantage
A producer has an absolute advantage over another in the production of a good or service if he or she can produce that product using fewer resources.
consumer goods
Goods produced for present consumption.
The process of using resources to produce new capital.
production possibility frontier (ppf)
A graph that shows all the combinations of goods and services that can be produced if all of society's resources are used efficiently.
marginal rate of transformation (MRT)
The slope of the production possibility frontier (ppf).
Bayer and Honda
Examples of a transnational corporation(2).
command economy
An economy in which a central government either directly or indirectly sets output targets, incomes, and prices.
laissez-faire economy
Literally from the French: "allow [them] to do." An economy in which individual people and firms pursue their own self-interest without any central direction or regulation.
The institution through which buyers and sellers interact and engage in exchange.
consumer sovereignty
The idea that consumers ultimately dictate what will be produced (or not produced) by choosing what to purchase (and what not to purchase).
Commuter Zone
the outer most zone of the Concentric Zone Model that represents people who choose to live in residential suburbia and take a daily commute in the CBD to work.
Level 17