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Sustainability
the desired balance between economic growth and environmental preservation
Sustainable development
a pattern of development that permits future generations to live at least as well as the current generation
Environmental accounting
the incorporation of environmental benefits and costs into the quantitative analysis of economic activities
Sustainable national income
an environmental accounting estimate of the total annual income that can be consumed without diminishing the overall capital assets of a nation
Environmental kuznets curve
reflects the concept that pollution and other environmental degradation first increases and then falls with increases in income per capita

The world food crisis
when food prices increased dramatically creating a global crisis and causing political instability and social unrest in both developing and developed nations
Agricultural productivity
average productivity per worker
average crop yield per hectare
(1/2)(100)(15-10)
consumer surplus

(1/2)(100)(10-5)
producer surplus

common property resource
collectively publicly owned and allocated under a system of unrestricted access
private cost
the direct monetary outlays or costs of an individual economic unit