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Public Bad
A public bad, in economics, is the symmetrical opposite of a public good. Air pollution is the most obvious example since it is non-excludable and non-rival, and negatively affects welfare.For current definitions of public bads see: Charles D. Kolstad, ''Environmental Economics'' Second Edition . Whereas public goods are typically under-provided by decentralized decision making (the market), public bad will generally be over-provided, since the parties generating the public bad do not account for the negative effects (or externality) imposed on others. One possibility to mitigate the existence of public bad is the intervention of a third party, typically the state. In " green economics", it is a good that produces socially undesirable results (or an externality in standard economics). Most "green economists" advise measuring such impacts back to the present from the seventh generation. Thus in the golf course example, both the recreation and the negative impacts from deforesta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pollution De L'air
Pollution is the introduction of contaminants into the natural environment that cause harm. Pollution can take the form of any substance (solid, liquid, or gas) or energy (such as radioactivity, heat, sound, or light). Pollutants, the components of pollution, can be either foreign substances/energies or naturally occurring contaminants. Although environmental pollution can be caused by natural events, the word pollution generally implies that the contaminants have a human source, such as manufacturing, extractive industries, poor waste management, transportation or agriculture. Pollution is often classed as point source (coming from a highly concentrated specific site, such as a factory, mine, construction site), or nonpoint source pollution (coming from a widespread distributed sources, such as microplastics or agricultural runoff). Many sources of pollution were unregulated parts of industrialization during the 19th and 20th centuries until the emergence of environmental ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Biodiversity Loss
Biodiversity loss happens when plant or animal species disappear completely from Earth (extinction) or when there is a decrease or disappearance of species in a specific area. Biodiversity loss means that there is a reduction in Biodiversity, biological diversity in a given area. The decrease can be temporary or permanent. It is temporary if the damage that led to the loss is reversible in time, for example through ecological restoration. If this is not possible, then the decrease is permanent. The cause of most of the biodiversity loss is, generally speaking, human activities that push the planetary boundaries too far. These activities include habitat destruction (for example deforestation) and land use intensification (for example monoculture farming). Further problem areas are Air pollution, air and water pollution (including nutrient pollution), over-exploitation, Invasive alien species, invasive species and climate change. Many scientists, along with the ''Global Assessment ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Cost
Social cost in neoclassical economics is the sum of the private costs resulting from a transaction and the costs imposed on the consumers as a consequence of being exposed to the transaction for which they are not compensated or charged. In other words, it is the sum of private and external costs. This might be applied to any number of economic problems: for example, social cost of carbon has been explored to better understand the costs of carbon emissions for proposed economic solutions such as a carbon tax. Private costs refer to direct costs to the producer for producing the good or service. Social cost includes these private costs and the additional costs (or external costs) associated with the production of the good which are not accounted for by the free market. In short, when the consequences of an action cannot be taken by the initiator, we will have external costs in the society. We will have private costs when initiator can take responsibility for agent's action.de V. G ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Externality
In economics, an externality is an Indirect costs, indirect cost (external cost) or indirect benefit (external benefit) to an uninvolved third party that arises as an effect of another party's (or parties') activity. Externalities can be considered as unpriced components that are involved in either consumer or producer consumption. Air pollution from motor vehicles is one example. The Air pollution#Health effects, cost of air pollution to society is not paid by either the producers or users of motorized transport. Water pollution from mills and factories are another example. All (water) consumers are made worse off by pollution but are not compensated by the market for this damage. The concept of externality was first developed by Alfred Marshall in the 1890s and achieved broader attention in the works of economist Arthur Cecil Pigou, Arthur Pigou in the 1920s. The prototypical example of a negative externality is environmental pollution. Pigou argued that a tax, equal to the m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Environmental Protection Agency
The Environmental Protection Agency (EPA) is an independent agency of the United States government tasked with environmental protection matters. President Richard Nixon proposed the establishment of EPA on July 9, 1970; it began operation on December 2, 1970, after Nixon signed an executive order. The order establishing the EPA was ratified by committee hearings in the House and Senate. The agency is led by its administrator, who is appointed by the president and approved by the Senate. The current administrator is Lee Zeldin. The EPA is not a Cabinet department, but the administrator is normally given cabinet rank. The EPA has its headquarters in Washington, D.C. There are regional offices for each of the agency's ten regions, as well as 27 laboratories around the country. The agency conducts environmental assessment, research, and education. It has the responsibility of maintaining and enforcing national standards under a variety of environmental laws, in consultat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hidden Cost
In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives. Assuming the best choice is made, it is the "cost" incurred by not enjoying the ''benefit'' that would have been had if the second best available choice had been taken instead. The '' New Oxford American Dictionary'' defines it as "the loss of potential gain from other alternatives when one alternative is chosen". As a representation of the relationship between scarcity and choice, the objective of opportunity cost is to ensure efficient use of scarce resources. It incorporates all associated costs of a decision, both explicit and implicit. Thus, opportunity costs are not restricted to monetary or financial costs: the real cost of output forgone, lost time, pleasure, or any other benefit that provides utility should also be considered an opportunity cost. Types Explicit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Benefit
In philosophy, economics, and political science, the common good (also commonwealth, common weal, general welfare, or public benefit) is either what is shared and beneficial for all or most members of a given community, or alternatively, what is achieved by citizenship, collective action, and active participation in the realm of politics and public service. The concept of the common good differs significantly among philosophical doctrines. Early conceptions of the common good were set out by Ancient Greek philosophers, including Aristotle and Plato. One understanding of the common good rooted in Aristotle's philosophy remains in common usage today, referring to what one contemporary scholar calls the "good proper to, and attainable only by, the community, yet individually shared by its members." The concept of common good developed through the work of political theorists, moral philosophers, and public economists, including Thomas Aquinas, Niccolò Machiavelli, John Locke, Jean- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Amortization (accounting)
In accounting, amortization is a method of obtaining the expenses incurred by an intangible asset arising from a decline in value as a result of use or the passage of time. Amortization is the acquisition cost minus the residual value of an asset, calculated in a systematic manner over an asset's useful economic life. Depreciation is a corresponding concept for tangible assets. Methodologies for allocating amortization to each accounting period are generally the same as those for depreciation. However, many intangible assets such as goodwill or certain brands may be deemed to have an indefinite useful life and are therefore not subject to amortization (although goodwill is subjected to an impairment test every year). While theoretically amortization is used to account for the decreasing value of an intangible asset over its useful life, in practice many companies will amortize what would otherwise be one-time expenses through listing them as a capital expense on the ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pesticide
Pesticides are substances that are used to control pests. They include herbicides, insecticides, nematicides, fungicides, and many others (see table). The most common of these are herbicides, which account for approximately 50% of all pesticide use globally. Most pesticides are used as plant protection products (also known as crop protection products), which in general protect plants from weeds, fungi, or insects. In general, a pesticide is a chemical or biological agent (such as a virus, bacterium, or fungus) that deters, incapacitates, kills, or otherwise discourages pests. Target pests can include insects, plant pathogens, weeds, molluscs, birds, mammals, fish, nematodes (roundworms), and microbes that destroy property, cause nuisance, spread disease, or are disease vectors. Along with these benefits, pesticides also have drawbacks, such as potential toxicity to humans and other species. Definition The word pesticide derives from the Latin ''pestis'' (plagu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Habitat (ecology)
In ecology, habitat refers to the array of resources, biotic factors that are present in an area, such as to support the survival and reproduction of a particular species. A species' habitat can be seen as the physical manifestation of its ecological niche. Thus "habitat" is a species-specific term, fundamentally different from concepts such as environment or vegetation assemblages, for which the term "habitat-type" is more appropriate. The physical factors may include (for example): soil, moisture, range of temperature, and light intensity. Biotic factors include the availability of food and the presence or absence of predators. Every species has particular habitat requirements, habitat generalist species are able to thrive in a wide array of environmental conditions while habitat specialist species require a very limited set of factors to survive. The habitat of a species is not necessarily found in a geographical area, it can be the interior of a stem, a rotten log, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyses what is viewed as basic elements within economy, economies, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and Expenditure, investment expenditure interact; and the factors of production affecting them, such as: Labour (human activity), labour, Capital (economics), capital, Land (economics), land, and Entrepreneurship, enterprise, inflation, economic growth, and public policies that impact gloss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Seven Generation Sustainability
Seven generation stewardship is a concept that urges the current generation of humans to live and work for the benefit of the seventh generation into the future. It is believed to have originated with the Great Law of the Iroquois – which holds appropriate to think seven generations ahead and decide whether the decisions they make today would benefit their descendants. It is frequently associated with the modern, popular concept of environmental stewardship or 'sustainability' but it is much broader in context. Iroquois Constitution The edict that "In every deliberation, we must consider the impact on the seventh generation" is often attributed to the Haudenosaunee Great Law of Peace, an oral constitution passed on by member nations. However, those words are not contained in written transcriptions of the Constitution of the Iroquois Nation. The only passage from the text mentioning the number seven talks about qualities that Iroquois leaders should have, while the end of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
