Environmental Science and Economics Key Terms

A set of vocabulary flashcards based on the lecture material covering overpopulation, economic costs, environmental legislation, worldviews, and sustainability terms.

Renewable Resources

• Natural resources that can overcome resource depletion due to consumption

• Unlimited

• Mostly their usage is environmentally friendly

• Convenient to use

• Freely available in nature

• Example: Wind, Hydropower, Solar, Geothermal, Biomass

Nonrenewable Resource

• Resources that do not renew itself sufficiently for sustainable economic extraction in meaningful human time frames

• Limited

• Mostly harmful to the environment

• There are restrictions in using these

• Expensive

• Example: Oil, Coal, Nuclear, Natural Gas

People Overpopulation

When there are too many people in a given geographic area.

Consumption Overpopulation

Which each individual in a population consumes too large a share of resources.

Environmental Economics

The study of efficient allocation, use, and protection of the world’s limited natural resources.

National Income

The total of income of a nation's goods and services.

External Cost

Harmful environmental or social cost that is borne by people not directly involved in selling or buying.

Marginal Cost

The added cost of additional units.

Abatement

The added cost reducing one unit a given type.

Optimum Cost

The amount of pollution that is economically most desirable