| A | B |
|---|
| abatement cost | cost of reducing something like pollution |
| balance of trade | the way people look at a nations trading. if expoting is exceeding importing the trade is considered faverable if other wayn around trade in unfavorable. |
| capital | wealth in the form of money, natural - goods and services, human or cultural - experiece or knowlge, technology and shared values and cooperation. |
| capitalistic market economy | an economic system where goods are produced and distributed by a private good. |
| cost benifit analysis | an attempt to assign value to a resouce (benefit) vs.impact to the society. effect and outcome |
| demand | the amount of a good that people want. by price income substitutes complements and consumer taste. |
| deregulation | the removal of a government regulation to allow the market to function properly |
| direct cost | the total cost that is associated with the company. cost for clean up. |
| durable goods | goods that provide a service over a number of years |
| econimic resouces | raw materials and materials that are obtained from the environment to meet himan needs. |
| effluent fees, effluent taxes | taxes of fines levied on polluters for every unit of production discharged into the air |
| developed country | a cpintry that has a high rate of industrialization |
| environmental indictators | are from many things demographics agriculture forest diogiversity energy. |
| external costs | harmfull effects of a product not including its market price |
| gross domestic product | the total market value in current dollar value for all goods and services produced within a country |
| gross national product | the total market value in current dollar value for all goods and services produced within andand outside of that countrey including all neyt income earned abroad. |
| internal costs | direct costs that are from buying the produst. cost of making the product. |
| law of demand | the principle that consumera are willing to purchase more of a comodity at lower prices than at higher prices |
| law of supply | the producer will sell more at a higher price than lower price |
| law of demand and suppply | that the law and demand and supply work together. is a equilibrium. |
| less developed countries | country that has a low to moderate rate of industrialization |
| market economy | a decentralized economic system wherein buyers and sellers interact to set prices and demand |
| pollution costs | the effects of this product when in use. how much harm is done producing and using the product. |
| subsidy | money paid to a producer by the government becuase that producer has created a good that is of pulic interest to the government and does not harm the enviornment. |
