NRES 372 FINAL EXAM 2024.

NRES 372 FINAL EXAM 2024. economic contribution #1 - correct answer Systems determined simultaneously describe EC #1 - correct answer some issues undertaken with discipline approach estimating Pop. size Regulatory changes effect markets MOST issues include aspects of both social and resource perspective best location and design of mgmt. area ecological impacts of mgmt. decisions Eco vs Econ impacts of resource mgmt. policies Economic contribution #2 - correct answer Incentives Matter describe EC #2 - correct answer Economics how people choose to use the scarce resources to fill their wants/ needs people respond to incentives desicions balance cost and benefit of one more step people usually choose based on own interest Economic contribution #3 - correct answer Scarcity results in Opp. cost describe EC #3 - correct answer Scarcity is not just a people thing Opp. cost is value of a resource in its next best alt. Scarcity - correct answer Diminished quality/quantity compared to demand