Chapter 3 - Value of biodiversity

Question 1

Voluntary Transactions

Answer 1

take place when beneficial to parties involved

Question 2

Externalities

Answer 2

Environmental damage is often a hidden cost of economic activity (dumping waste in environment)

Question 3

Market failure

Answer 3

Misallocation of resources in which a business benefits at the expense of society. Economic forces will tend to undervalue natural resources and biodiversity.

Question 4

Tragedy of The Commons

Answer 4

pushing profits causes harm

Question 5

real costs of resource use

Answer 5

elimination of perverse species, penalties for pollution, taxes for use of fossil fuels.

Question 6

Ecological economics

Answer 6

value of biodiversity in economic terms, used to convince government

Question 7

Environmental impact statements

Answer 7

evaluate the impact of large projects on the environment, biodiversity, and people living nearby.

Question 8

Cost - Benefit analysis

Answer 8

compare value gained from project vs costs

Question 9

Precautionary Principle

Answer 9

take action just in case

Question 10

Opportunity costs

Answer 10

Conservation / other budget requirements
Species A vs Species B

Question 11

Gross domestic product

Answer 11

The total market value of all goods and services produced within a country, things that damage the environments may increase GDP in the short term.

Question 12

Costa Rica

Answer 12

logging hurt the value of agriculture by 17%

Question 13

Exon Valdez

Answer 13

oil spill in 1989 was recorded as an economic gain

Question 14

BP New Horizon Oil Spill

Answer 14

Billions to clean up - net GDP gain

Question 15

Genuine Progress indicator (GPI)

Answer 15

26 indicators to include impacts on all areas of our lives.

Question 16

Environmental Performance index

Answer 16

Rank countries on how they protect the environment

Question 17

Assigning value of biodiversity

Answer 17

Aesthetic value
Scientific value
Educational value
Economic value
- value if harvested
- Value of resource in natural state
- Future value

Question 18

Ethical dilemma

Answer 18

Can you put a price on a lost species, we should because others will.

Question 19

Direct use value

Answer 19

(private goods, commodity values) assigned to products people harvest

Question 20

indirect use value

Answer 20

the value of a resource or ecosystem service that is not directly consumed or interacted with

Question 21

consumptive use value

Answer 21

goods consumed locally, never bought or sold

Question 22

Productive use value

Answer 22

raw materials for sale on the international market, price paid at first sale.

Question 23

Forest Products

Answer 23

Timber/wood

Question 24

Biologically derived medicine

Answer 24

many drugs were derived from natural products. ex. Novocain derived from coca

Question 25

Herbal remedies

Answer 25

Ginkgo Bilboa, Marajuana, St. Johns wort

Question 26

Indirect values

Answer 26

1- Non-Consumptive value 2 - Option value 3 - Existence value water, air, soil quality, recreation

Question 27

Nonconsumtive use values

Answer 27

services provided by the enviroment not used for consumption. Ecosystem services 145 trillion

Question 28

Ecosystem (Primary) Productivity

Answer 28

base of food chain, produce oxygen and absorb CO2, plant productivity increases with diversity.

Question 29

Protection of water and soil resources

Answer 29

plant foliage and dead leaves - intercept rain root systems aerate the soil - causing more water absorption Root systems protect against landslides and erosion

Question 30

Logging or destruction of wetlands

Answer 30

increased sediment loads in water damage water supplies damage top soil flooding

Question 31

Climate regulation

Answer 31

local level regional level global level

Question 32

local level

Answer 32

trees provide shade, less A/C

Question 33

regional level

Answer 33

transpiration from plants returns water to the atmosphere

Question 34

global level

Answer 34

plants absorb CO2, reducing CO2 levels

Question 35

Waste treatment / nutrient storage

Answer 35

natural environments may process toxic material. expensive waste treatment plants must be utilized

Question 36

Species relationships

Answer 36

Wild game and fish harvested require other species to grow. useful plants require birds etc. for seed dispersal. bees pollinate

Question 37

detritovores

Answer 37

critical for nutrient cycling

Question 38

Indicator species

Answer 38

River otters, evaluate clean river systems

Question 39

Recreation value

Answer 39

hiking, biking, bird watching, diving, fishing also value from related travel expenses