Monday, April 16, 2007

Homework: Chapter 11

1- Define the following: (a) ecology (b) ecosystem
2- What's the "traditional view" of business toward the environment?
3- Define "spillover" and "externality."
4-Is "cost benefit analysis" justifiable? Can "ecological economics" help?
5- Who should pay the costs of pollution?
6- Explain the difference between regulation, incentive and pricing mechanisms.
7- DO we have an obligation to future generations? Explain
8- Is nature intrinsically valuable? Explain

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