GEOG 3210 Midterm: 3210 Midterm

• School: University of Guelph
• Department: Geography
• Course: GEOG 3210
• Professor: Richard Kuhn

Document Summary

Question 1, talked about in lecture and it"s in the textbook: framework is marshall decision, case study is burnt church how was it resolved. Long record of failure to sustain the yield of biological resources suggests that such restriction is possible only in theory. While fish and timber are renewable, in practice they may have not been sustainable. Economics of resource exhaustion: basic economic causes: Economically rational to exhaust resources with a slow annual growth rate, converting natural resources to economic capital for reinvestment in other industries with a shorter time horizon: cost-price squeeze declining quality of the raw material base. Development of technical rationale for raising the total allowable catch (tac) Addition of formerly worthless species to the inventory can be used to justify the accelerated depletion of the more valuable species. Minor changes in calculation methods can lead to an upward bias in inventories.