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Chapter 1-4 - Coggle Diagram
Chapter 1-4
Chapter 2
Centrally planned economic system: rulers decide (dictatorship)
Free Market: market decides what will be exchange(capitalist)
Produced Capital: essential to the production of goods and services (durable goods) ex: power lines, roads (most easily measured to decipher a nation's economy)
Natural Capital: world's natural resources ex: fossil and mineral resources
Intangible Capital: not physical in nature ex: broken into human (population), social (social political environment we create), and knowledge capital (written info transferred from person to person)
Environmental Policy:
Recognition: recognizes that there’s a significant issue
Formulation: combat issue by creating a policy
Implementation: implement the policy after it is put into law
Control: policy works and issue is under control
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