CHAPTER 5.docx

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Department
Environmental Science
Course
Environmental Science 1021F/G
Professor
Geoff Stewart
Semester
Fall

Description
CHAPTER 5: ECOLOGICAL ECONOMICS AND CONSUMPTION SUSTAINABLE: capable of being continued without degrading the environment ECONOMICS: the social science that deals with the production, distribution, and consumption of goods and services -its important to recycle and to maximize energy efficiency – in this way, nature is an ecological model that can inspire economic models that enhance sustainability ECOSYSTEM SERVICES: essential ecological processes that make life on Earth possible -Canada has the 8 largest per capita ecological footprint -if everyone on Earth lived like Canada, we would need 3.5 Earths -if everyone on Earth lived like Kenya, we would have enough land and resources to spare BUSINESSES AND INDIVIDUALS IMPACT THE ENVIRONMENT WITH THEIR ECONOMIC DECISIONS ECOLOGICAL FOOTPRINT: the land area needed to provide the resources for, and assimilate the waste of a person or population -humans currently use 50% more resources than is ultimate sustainable NATURAL CAPITAL: the wealth of resources on Earth NATURAL INTEREST: readily produced resources that we could use and still leave enough natural capital behind to replace what we took BIOCAPACITY: the ability of land or aquatic ecosystems to produce resources and assimilate our waste IPAT MODEL: an equation (I = P x A x T) that measures human impact (I), based on three factors: population (P), affluence (A), and technology (T) -as population increases, so does the impact -when technologies reduce the environmental impact rather than increase it, the equation used to describe their impact changes to: I = (P x A) / T MAINSTREAM ECONOMICS SUPPORTS SOME ACTIONS THAT ARE NOT SUSTAINABLE -one of the limitations of mainstream economics is that it doesn’t take into account all potential costs INTERNAL COSTS: those costs, such as raw materials, manufacturing costs, labor, taxes, utilities, insurance and rent – that are accounted for when a product or service is evaluated for pricing EXTERNAL COSTS: costs that are associated with a product or service, but are not taken into account when a price is assigned to that product or service TRIPLE BOTTOM LINE: the environmental, social, and economic impacts of our choices TRUE COST: the sum of both
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