The concepts mentioned below (in sequential order with what is covered in the textbook) are key to the discussions and lectures that occurred in class. All of the concepts, theories, and key definitions in the Powerpoint presentations are eligible for test questions since that content is also taken directly from the book so use those as an additional resource. Also, there is a Glossary that begins on page 429 so if you want to see the textbook definition of a term covered in the Powerpoint, this is the place to find it. Most of the definitions should be familiar to you from the material we have covered. Remember, the purpose of this test is to measure your level of understanding of Ecological Economics and how well you can apply the knowledge.
1. Economics is defined as a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses (01)
2. Neoclassical economics can be characterized as believe that constant growth is possible and ignores relationships between humans and nature (01)
3. Economies based upon unlimited growth are bound to collapse (01)
4. The Earth is most like a Closed System since energy flows through and matter cycles within (02)
5. Uneconomic growth is the idea that growth has a cost. This is a point at which growth is harmful (02)
6. The First Law of Thermodynamics is Conservation of Matter and Energy (02)
7. The Second Law of Thermodynamics is Entropy Law and recycling of energy; All raw materials eventually become waste (02)
8. A steady-state economy can be classified by the following characteristics: “stationary state,” created by John Stuart Mills; Unchanging capital stock and population defined the scale of the subsystem; Instead of getting bigger, society’s focus would become getting better since energy was no longer focused on growth; Birth rates=death rates; inputs=outputs (03)
9. Stock-flow resources: material that is transformed into what is produces; measured by the...