Environmental and Natural Resources Economics
ICSE · Class 12 · Environmental Science
Flashcards for Environmental and Natural Resources Economics — ICSE Class 12 Environmental Science. Quick Q&A cards covering key concepts, definitions, and formulas.
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What is an ecosystem?
Answer
An ecosystem is a natural unit consisting of all plants, animals and micro-organisms in an area working together with all the non-living factors of the environment.
How do source and sink functions differ?
Answer
Source function allows humans to use the environment through recreation and harvesting of resources, and it gets depleted as resources are consumed. Sink function is the ability of the environment to …
Why is overuse of resources harmful to ecosystems?
Answer
Overuse reduces the source function, overloads the sink function, and lowers the carrying capacity of the ecosystem. This leads to climate change, ozone depletion, land degradation, and loss of biodiv…
What are the three main characteristics of resources?
Answer
Resources have utility, limited availability, and consumption. A resource provides benefit, is not unlimited, and gets used up or transformed during use.
Why is a good or service called scarce?
Answer
A good or service is scarce if the amount a person requires is greater than the available amount. Scarcity creates the basic economic problem because human wants are unlimited while resources are limi…
How can a country appear to have high GDP for a short time?
Answer
A country may achieve temporarily high GDP by overexploiting natural resources or by misallocating investment. Such growth may look strong in numbers but is not sustainable.
What does GDP measure?
Answer
GDP, or Gross Domestic Product, measures a nation’s total income and the total output of goods and services produced domestically. It is different from GNP.
What is the formula for GNP?
Answer
GNP = GDP + Factor Payments from Abroad - Factor payments to abroad. GNP measures total income earned by nationals or residents of a nation.
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