Sustainable Development Goals and Global Impact
17 Questions
2 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the condition for Pareto efficiency in economics?

  • $MC = S$
  • $MRS_a = MRS_b$ (correct)
  • $MRT = MRTS$
  • $MRTS_x = MRTS_y$

    • What is the main focus of Sustainable Development Goals (SDGs)?

  • Reducing local problems only
  • Addressing large global issues (correct)
  • Maximizing profits in agriculture
  • Minimizing international agreements

    • What does the intersection of supply and demand curves in economics represent?

  • Total welfare
  • Maximum cost and minimum profit
  • Pareto efficiency
  • Optimal quantity and price ($Q^*$ and $P^*$) (correct)

    • In economics, what does MRTS stand for?

    <p>Marginal Rate of Technical Substitution</p> Signup and view all the answers

    What is one example of a Sustainable Development Goal mentioned in the text?

    <p>Agriculture in NL and its impact on nature</p> Signup and view all the answers

    What concept represents the point where marginal cost equals marginal benefit in economics?

    <p>Equilibrium</p> Signup and view all the answers

    What is the main contribution of economics according to the text?

    <p>Determining optimal solutions given the goal</p> Signup and view all the answers

    Which of the following is a requirement for an efficient market outcome?

    <p>Perfectly competitive markets</p> Signup and view all the answers

    What solution does Coase propose for addressing externalities?

    <p>Create property rights and let the market find optimal solutions through negotiation</p> Signup and view all the answers

    Why might taxation be considered a more effective solution than Coase's proposal?

    <p>It guarantees equal costs for all firms and addresses price elasticity</p> Signup and view all the answers

    What is a potential drawback of using taxation as a solution to address externalities?

    <p>It may lead to production shifts to lower regulated countries</p> Signup and view all the answers

    Apart from taxation, which other instrument can be used to address externalities?

    <p>Command and control regulations</p> Signup and view all the answers

    What is a characteristic of Anglo-Saxon Capitalism according to the text?

    <p>Profit-minded with focus on short-term profit</p> Signup and view all the answers

    What does 'Doughnut Economics' by Kate Raworth emphasize?

    <p>The need for long-term thinking and consideration of all stakeholders</p> Signup and view all the answers

    According to Ray Dalio, what historical factor can harm economic growth?

    <p>High levels of inequality</p> Signup and view all the answers

    What does 'Stakeholder Capitalism' primarily focus on?

    <p>Long-term thinking and consideration of all stakeholders</p> Signup and view all the answers

    What aspect does 'Sustainability Reporting' primarily aim to address?

    <p>'Minimum harm' approach in business activities</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser