12.6 Flashcards
(4 cards)
1
Q
What does the Production Possibility Frontier (PPF) illustrate?
A
The tradeoffs between environmental protection and economic output.
2
Q
What happens as environmental protection increases?
A
Cheap reduction methods are used up, costs rise, and benefits decline.
3
Q
What are the choices societies must decide between regarding economic output and environmental protection?
A
Choice P: More economic output, less environmental protection.
Choice T: More environmental protection, less economic output.
Choice M: Inefficient and undesirable.
4
Q
What can market-oriented solutions provide?
A
The same environmental protection at lower costs or achieve higher environmental protection at the same cost.
