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Chapter 2

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
Economic System   Network of people, institutions, and commercial interests involved in the production, distribution, and consumption of goods and services.  
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Sustainable Development   Meets needs of present generation without reducing the ability of future generations to meet their needs.  
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Ecosystem   All of the organisms living in a particular place and their interactions with each other and with the local climate and geology.  
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Economics   Social science concerned with production, distribution, and consumption of goods and services as well as the theory and management of economic systems.  
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Energy   The capacity to do work.  
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Work   Description of transfer of energy; amount of work depends on how heavy and/or vigorous  
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Potential   Chemical make up  
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Chemical   Form of potential; energy stored in bonds of molecules  
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Kinetic   Moving object  
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Gravitational Potential   Due to gravity  
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Thermal   Heat through motion  
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Radiant   Energy of electromagnetic radiation  
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1st Law of Thermodynamics   Concerned with the conservation of energy: When one form of energy is transformed to other forms, the total amount of energy in a system and its surroundings is the same.  
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2nd Law of Thermodynamics   The quality of the energy declines with each energy transfer of transformation; also states that entropy increases  
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Entropy   The amount of disorder in a system  
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Food Web   A set of feeding relationships among organisms indicating the flow of energy and materials in an ecosystem.  
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Trophic Level   Identifies species position in the overall movement of materials or energy through an ecosystem.  
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Carnivores   Feeds on other living; predators, or secondary consumers  
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Omnivores   Feeds on plants/animals  
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Herbivores   Plants; primary consumers  
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Primary Producers   Usually plants/algae (autograph) Means of photosynthesis  
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Detrivoes   Feed on organic matter; decomposers  
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Gross Primary Production   Total amount of organic matter produced by primary producers in an ecosystem over a period of time.  
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New Primary Production   Amount of food energy available for other organisms that feed on primary producers.  
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Secondary (consumer) Production   Amount of consumer biomass or energy that goes into growth or reproduction.  
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Conservation of Matter   Matter is neither created nor destroyed.  
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Biochemical Cycle   Cyclic path of an inorganic substance through the Earth system  
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Carbon Cycle   Key processes: photosynthesis, reparation  
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Substance Economy   Individuals or groups produce of harvest enough resources from the natural environment to largely support themselves.  
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Market Economy   Production and consumption of goods and services made by the people.  
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Centrally Planned Economy   Central authority makes decisions.  
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State   Property owned, by federal, state, or local governments.  
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Private   Property owned by individuals.  
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Open Access   Property in which there are no restrictions about who may enter and exploit its resources; first come, first served.  
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Common   Property owned or controlled by a community, such as indigenous tribe.  
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Positive Feedback   Increase in some factors produces increases within the system.  
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Economic Externality   Cost or benefit to environment/society resulting in production and use of product that is not included in market price.  
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Market Failure   Society is harmed because inefficiency in how goods and services are distributed.  
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Common Pool Resource   Owned and utilized in common by a community.  
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Common and Control Regulations   Regulation of an industry/activity, indicating what is and is not allowed and penalties  
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Environmentaleconomics   Assessment and management of costs and benefits of economic impacts on the environment  
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Natural Capital   Value of Earth's natural assets (minerals, air, water)  
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Ecological Economics   Attempt to build a bridge between humans, institutions, rest of nature  
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Ecosystem Services   Benefits humans receive from natural ecosystems (food, water purification)  
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Market Based Approach   Alternative to command and control regulation that seeks to encourage adherence to social or environmental goals using principles of supply and demand.  
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