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Ch 1-4 Study guide - Coggle Diagram
Ch 1-4 Study guide
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Ch 2: Economics, Politics, and Public Policy
gross domestic product (GDP):
total of the value of all the goods and services produced in a nation in a time frame
gross national product (GNP):
total value of all the goods and services produced by a nation in a single year (entire economy)
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risen? not? GDP has risen, GPI has not
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judicial branch:
provides guidance needed for sustainable development by enforcing laws relating to the environment
executive branch:
- implements congressional policy
- represented by the EPA
command + control policy:
an approach to protecting the environment that sets strict legal limits and threatens punishment for violations of those limits
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market based policy:
provide incentives so that private decision makers will choose to solve the problem on their own
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nongovernmental organizations (NGO's):
non profit organizations that work independently of the gov to address environmental issues
how is cost-benefit analysis related to environmental policy?
compares costs + benefits of an intervention
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intangible capital:
nonmaterial goods that contribute to the output of future goods and services
ex) human, social, knowledge
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