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Environmental Economics www.AssignmentPoint.com
Environmental Economics www.AssignmentPoint.com

... The mitigation of climate change effects is an example of a public good, where the social benefits are not reflected completely in the market price. This is a public good since the risks of climate change are both non-rival and nonexcludable. Such efforts are non-rival since climate mitigation provi ...
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... became increasingly fueled by the euphoria over the “new economy,” the dot-com bubble, and massive overinvestment in tech-related industries. In the first half of the 2000s, the economy became increasingly reliant on irrational exuberance over housing, resulting in house prices spiraling far beyond ...
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... Human Development Index (HDI) was developed to measure the quality of life in different nations. It calculates three factors: 1. Life expectancy at birth (function of health care) 2. Educational attainment (combination of adult literacy rate and enrollment in primary, secondary and tertiary educatio ...
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... •Recall the three basic questions facing all economic systems: • (1) What gets produced? • (2) How is it produced? • (3) Who gets it? •Given scarce resources, how exactly do large, complex societies go about answering the three basic economic questions? ...
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Steady-state economy

A steady-state economy is an economy of relatively stable size. A zero growth economy features stable population and stable consumption that remain at or below carrying capacity. The term typically refers to a national economy, but it can also be applied to the economic system of a city, a region, or the entire planet. Note that Robert Solow and Trevor Swan applied the term steady state a bit differently in their economic growth model. Their steady state occurs when investment equals depreciation, and the economy reaches equilibrium, which may occur during a period of growth.
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