ECS2606 Assignment 1 Semester 1 2023 Questions and Answer {District ion A+}

Environmental economics - -application of the principles of economics to the study of how scarce environmental resources are allocated by individuals and society. -Failure and successes of incentive based policies - -Tough mexican clean air act and Corporate average fuel economy charge per trash bag -postitive economics - -describes what is -normative economics - -deals with what should be -Regulations and economic growth - -unlikely to increase unemployment and impair competitiveness in a significant way: - Environmental regulation costs are small for most industries - Pollution control sector is relatively labor-intensive - Some industries face larger costs but competitors face same regulations -Environmental Kuznets Curve - EKC - -Some pollution increases during the early stages of a country's development and then begins to diminish as countries gain adequate resources to tackle pollution problems" -perman - -provisioning services/resource base- water food fuel fiber cultural services/amenity service base- recreation, aesthetic, religious, educational regulating services/waste sink- erosion, water purification, pollination, air quality life supporting services/the environment-photosynethis, soil formation, nutrient cycling, water cycling, biosphere