This quiz works best with JavaScript enabled. Home > Economics > Environmental Economics > Environmental Economics – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Environmental Economics Quiz 1 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Jaden wants to know the amount of a specific toy people will buy at a given price if free to do so. What is this called? A) Lobbying. B) Non-market value. C) Supply. D) Demand. Show Answer Correct Answer: D) Demand. 2. When did Environmental Economics become a formalised subfield of economics? A) 1980s. B) 1990s. C) 2000. D) 1970s. Show Answer Correct Answer: B) 1990s. 3. "Energy Star, " "USDA Organic, " and "Fair Trade Certified" are all examples of A) Ecosystems ecosystems. B) Ecolabelling. C) Non-market values. D) Market failure. Show Answer Correct Answer: B) Ecolabelling. 4. Water economics-The main problem with desalination to increase water supplies is that ..... A) Supplies are usually contaminated with pesticides. B) Communities tend to be located too far from water supplies. C) Water tends to evaporate before it can be used. D) There are few available sources. E) It is very expensive. Show Answer Correct Answer: E) It is very expensive. 5. What is a good which is produced domestically but sold in a foreign country? A) Import. B) Export. C) Gross Domestic Product. D) Human Development Index. Show Answer Correct Answer: B) Export. 6. Logan wants to buy a new smartphone. What is the amount of smartphones people like Logan will buy at a given price if free to do so? A) Lobbying. B) Non-market value. C) Supply. D) Demand. Show Answer Correct Answer: D) Demand. 7. Cap and trade was done successfully to prevent sulfur dioxide from directly causing A) Wildlife to die off. B) Destruction of habitats. C) Acid rain. D) Clam shells to dissolve. Show Answer Correct Answer: C) Acid rain. 8. Many groups try to influence government policies through A) Crying. B) Preaching. C) Lobbying. D) Doing Nothing. Show Answer Correct Answer: C) Lobbying. 9. An ecosystem is defined as A) The transition zone between grassland and desert. B) A group of interactive species and their environment. C) A body of freshwater. D) The lowland area on either side of a river. E) All choices are correct. Show Answer Correct Answer: B) A group of interactive species and their environment. 10. Firms with high marginal costs of control will have incentives to buy allowance from firms with low marginal control costs. This environmental solution is A) Emissions Charges. B) Cap and Trade System. C) Emission Standards. D) None above. Show Answer Correct Answer: B) Cap and Trade System. 11. Common Pool Resource-The open-access equilibrium is usually ..... A) Economically efficient and ecologically sustainable. B) Economically inefficient but ecologically sustainable. C) Economically efficient but ecologically unsustainable. D) Neither economically efficient nor ecologically sustainable. Show Answer Correct Answer: D) Neither economically efficient nor ecologically sustainable. 12. Why is discounting important in cost-benefit models? A) People care about the present more & prefer to receive benefits earlier. B) People care about the present more & prefer to receive benefits later. C) People care less about the present & prefer to receive benefits later. D) People care more about the future and prefer to receive later. Show Answer Correct Answer: A) People care about the present more & prefer to receive benefits earlier. 13. Which school of economics considers natural capital to be important but not indispensable? A) Classical. B) Neoclassical. C) Capitalistic. D) Capitalistic. E) Socialistic. Show Answer Correct Answer: B) Neoclassical. 14. Why don't environmental management standards work? A) Limitations of statutory regulations. B) Information limitations. C) Non-uniformity of pollution. D) All true. Show Answer Correct Answer: D) All true. 15. According to the ....., the economy operates within social relationships and the whole of society is embedded within the natural world or environment, which is the service provider that enables human society to exist. A) Classical economists view. B) Green economists view. C) Neo-classical economists view. D) Triple bottom line. Show Answer Correct Answer: B) Green economists view. 16. One of the weaknesses of technology-based standards is: A) Companies cannot look for the cheapest technology. B) Companies are trying to pollute. C) Pollution is not the same between regions. D) All true. Show Answer Correct Answer: A) Companies cannot look for the cheapest technology. 17. What is true of many industry estimates of the costs associated with pollution control regulations? A) They are almost always more (and often much more) than the actual costs of complying. B) They typically underestimate the costs, resulting in the need for government assistance. C) They are usually reasonably accurate. D) They are usually quite similar to the estimates provided by environmental groups. E) They are typically quite similar to the governmental estimates. Show Answer Correct Answer: A) They are almost always more (and often much more) than the actual costs of complying. 18. Which price structure would tend to most effectively promote water conservation? A) Uniform block structure. B) Constant price structure. C) Increasing block structure. D) Marginal price structure. E) Decreasing block structure. Show Answer Correct Answer: C) Increasing block structure. 19. Setting ..... on environmental services would allow people to better perform a cost benefit analysis A) Controls. B) Limits. C) Values. D) Regulations. Show Answer Correct Answer: C) Values. 20. This Act awards money to companies to invest in and develop new, less polluting technology A) The United States Technology Act. B) The United States Pollution Defense Act. C) The United States Recovery ad Reinvestment Act. D) The Business Assistance Act. Show Answer Correct Answer: C) The United States Recovery ad Reinvestment Act. Next →Related QuizzesEconomics QuizzesEnvironmental Economics Quiz 2Environmental Economics Quiz 3Environmental Economics Quiz 4Environmental Economics Quiz 5Environmental Economics Quiz 6Environmental Economics Quiz 7Environmental Economics Quiz 8Environmental Economics Quiz 9Environmental Economics Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books