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Flashcards in Final Deck (29)
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0
Q

Current reserves

A

A resource that can be extracted profitably at current prices.

1
Q

Resource taxonomy

A

Classification system used to distinguish various categories of resource availability.

2
Q

Potential reserves

A

Resources potentially available. Depends on wtp

3
Q

Resource endowment

A

represents the occurrence of resources in the earth

4
Q

Choke price

A

Maximum willingness to pay.

5
Q

The switch point

A

Transition point to a renewable substitute.

6
Q

Population growth is a significant source of what?

A

Non sustainability

7
Q

Population growth in U.S.

A

Going down due to lower birth rates

8
Q

Stationary population

A

One that is constant and equal to the death rate

9
Q

Replacement rate

A

Level of fertility that is compatible with a stationary population. U.S. = 2.11

10
Q

If mp is above ap

A

Ap is rising

11
Q

If mp is below ap

A

Ap is falling

12
Q

If mp is equal to ap

A

Ap is equal

13
Q

Induced innovation hypothesis

A

Increased populations, trigger increased demand for agriculture goods. Land scarcity results I ag innovation and increased sustainability.

14
Q

Stage 1

A

Right before industrialization, birth rates are stable and a lil higher than death rates.

15
Q

Stage 2

A

Death rates fall dramatically but birth rates stay the same causing large population growth.

16
Q

Stage 3.

A

Longer life expectancy and birth rates fall below the declining death rates.

17
Q

Theory of demographic transition.

A

Reduction in population growth might cause higher standard of living.

18
Q

Congestion externalities

A

One source of market failure.

19
Q

Subsidized food

A

Artificially lowers the cost of children.

20
Q

Identified resources

A

Specific bodies of mineral bearing material who’s location quality and quantity are known from geological evidence supported by engineering measurements

21
Q

Measured resource

A

Material for which quantity and quality estimates are within a margin of error of less than 20% from geologically well-known sample sites

22
Q

Indicated resources

A

Material for which quantity and quality have been estimated partly from sample analysis and partly from reasonable geological projections

23
Q

Inferred resources

A

Material in unexplored extensions of demonstrated resource based on geological projections

24
Q

Undiscovered resources

A

On specific bodies of mineral bearing material surmised to exist on the basis of broad geological knowledge and theory

25
Q

Hypothetical resources

A

undiscovered materials reasonably expected to exist in a known mining district under known geological conditions

26
Q

Speculative resources

A

Undiscovered materials that may occur in either known types of deposits and favorable geological settings were no discoveries have been made or in yet unknown types of deposit that remain to be recognized

27
Q

Microeconomic theory of fertility

A

Begins at the viewpoint…children are consumer durables… and the demand for them will be downward sloping.

28
Q

Women’s income earning potential can be increased through investments in what

A

Human capital, physical capital