Environmental Economics, Policy, and Law

Key Vocabulary
Agenda 21
Bottle law
Cost-benefit analysis
Cost-benefit ratio
Endangered species act
External Cost
GNP (Gross National Product)
Lacey Act
NIMTOO (Not in my term of office)
Nonrenewable resource
Renewable resource
Special Interest group
Tragedy of the Commons
True cost

Review Questions
What are the local state and national laws that apply to the air, water and toxic waste regulations?
How are cost-benefit ratios determined and how are they used in natural resources?