Sustainable Economic Models Quiz chapter 5
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Questions and Answers

What is the fundamental flow in an economy according to Kate Raworth's new model?

  • Technology
  • Resources and energy (correct)
  • Goods and services
  • Money

    • In the embedded economy, where is the economy embedded?

  • In society (correct)
  • In technology
  • In outer space
  • In politics

    • What do businesses draw from the earth in the embedded economy?

  • Heat and matter
  • Money and technology
  • Waste and pollutants
  • Resources and energy (correct)

    • What does the earth usually receive from our economy as a result of business activities?

    <p>Waste and pollutants</p> Signup and view all the answers

    What is seen as a huge leak in our economy in terms of resources and energy?

    <p>Using more resources than the earth can replenish</p> Signup and view all the answers

    In the embedded economy, what does added value no longer only mean?

    <p>Economic value</p> Signup and view all the answers

    What contributes to added value within social groups in the embedded economy?

    <p>Volunteers and care for family members</p> Signup and view all the answers

    Apart from economic value, what else does added value include in the embedded economy?

    <p>Social value</p> Signup and view all the answers

    What creates additional value without the use of money in the embedded economy?

    <p>Volunteers and care for family members</p> Signup and view all the answers

    Where is the concept of wealth created within social groups expanded in the embedded economy?

    <p>Social networks and relationships</p> Signup and view all the answers

    In the embedded economy, what has a huge impact on each other?

    <p>Society and economy</p> Signup and view all the answers

    What is the main focus of sustainable business management according to the text?

    <p>Creating integrated value</p> Signup and view all the answers

    What concept does Christian Felber propose for international (free) trade?

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

    What does the current model of international free trade lack, as discussed in the text?

    <p>Global alignment</p> Signup and view all the answers

    What is one of the shortcomings of free trade agreements, as mentioned in the text?

    <p>Concentration of global power within a few business groups</p> Signup and view all the answers

    What could influence import tariffs in a sustainable world trade system, based on the text?

    <p>Cultural diversity</p> Signup and view all the answers

    What does the UN sustainability report reveal about the top 20 countries focused on implementing the SDGs?

    <p>Most are European countries</p> Signup and view all the answers

    What is the primary responsibility of households in the economy?

    <p>Ensuring that workers can go to work everyday by supporting their needs</p> Signup and view all the answers

    What does the market in the embedded economy refer to?

    <p>An uncontrolled free market leading to resource stress and inequalities</p> Signup and view all the answers

    What are the commons in the economy?

    <p>Shareable resources that people choose to use and govern through self-regulation</p> Signup and view all the answers

    What is the role of the state in the embedded economy?

    <p>To provide public goods like education and healthcare and support the core caring economy of households</p> Signup and view all the answers

    What are the boundaries defined in the doughnut economy concept?

    <p>Social foundation and ecological ceiling</p> Signup and view all the answers

    According to the concept of creating shared value, why should businesses be involved?

    <p>Because businesses have the resources to act and it is beneficial to both sides</p> Signup and view all the answers

    In the new type of capitalism as per creating shared value, what changes are needed in business education?

    <p>A change in business education to align with creating shared value principles</p> Signup and view all the answers

    What does creating shared value focus on in terms of products and markets?

    <p>Fulfilling human needs and redefining productivity in the value chain</p> Signup and view all the answers

    What is one critique of creating shared value (CSV)?

    <p>CSV ignores the tension between social and economic goals</p> Signup and view all the answers

    What does new capitalism emphasize in terms of growth?

    <p>'The why' behind business decisions</p> Signup and view all the answers

    What does open access refer to?

    <p>Resources available without any restrictions or governance from community or government</p> Signup and view all the answers

    What does traditional capitalism consider as a trade-off?

    <p>Social value and financial value</p> Signup and view all the answers

    What are some aspects that need to be considered when valuing new business opportunities?

    <p>Production cost, demand, competition</p> Signup and view all the answers

    What is the primary flow in an economy according to Kate Raworth's new model?

    <p>Resources and energy</p> Signup and view all the answers

    In the embedded economy, what is considered a huge leak in our economy?

    <p>Resource and energy waste</p> Signup and view all the answers

    Where does the economy draw resources and energy from in the embedded economy?

    <p>The earth</p> Signup and view all the answers

    What does added value no longer only mean in the embedded economy?

    <p>Economic value</p> Signup and view all the answers

    What does the earth receive from our economy as a result of business activities?

    <p>Waste and pollution</p> Signup and view all the answers

    What is one critique of creating shared value (CSV)?

    <p>Focusing solely on profit</p> Signup and view all the answers

    What does the market in the embedded economy refer to?

    <p>Exchange of goods and services</p> Signup and view all the answers

    What contributes to added value within social groups in the embedded economy?

    <p>Volunteers and community engagement</p> Signup and view all the answers

    What does open access refer to?

    <p>Unrestricted use of natural resources</p> Signup and view all the answers

    What is the concept proposed by Christian Felber for international (free) trade?

    <p>Common good economy</p> Signup and view all the answers

    What is the current model of free trade based on?

    <p>Each country dedicating its resources to create goods and services that provide a comparative advantage</p> Signup and view all the answers

    What is the main shortcoming of free trade in terms of inequality?

    <p>Not all countries were equal at the start of the free trade agreements</p> Signup and view all the answers

    What does Christian Felber propose for international (free) trade?

    <p>Creation of a global planned economy</p> Signup and view all the answers

    What factor could influence an import tariff in a sustainable world trade system?

    <p>Recognition of the legal rights of nature</p> Signup and view all the answers

    What is the UN sustainability report revealing about the top 20 countries focused on implementing the SDGs?

    <p>All 20 countries are from Europe</p> Signup and view all the answers

    What is one proposed way to limit the power of companies in global trade?

    <p>No company may hold more than 1% market share</p> Signup and view all the answers

    What impact is felt in Asia due to guidelines on transparency and reporting in Europe and the US?

    <p>A shift in local companies' feelings</p> Signup and view all the answers

    What does creating shared value focus on in terms of products and markets?

    <p>Creating value instead of profit</p> Signup and view all the answers

    Why does free trade raise inequality?

    <p>Poor countries have to abide by different rules than rich countries.</p> Signup and view all the answers

    What is one shortcoming of the global trade system, based on the text?

    <p>A difference between economic thinking and chrematistics.</p> Signup and view all the answers

    What does sustainable business management aim to achieve in international trade?

    <p>Creating value instead of profit.</p> Signup and view all the answers

    What is the primary responsibility of households in the economy?

    <p>Providing labor, capital, and nature to businesses</p> Signup and view all the answers

    What does open access refer to in the context of the economy?

    <p>Access to shared resources governed by self-regulation</p> Signup and view all the answers

    What is one critique of creating shared value (CSV)?

    <p>It ignores the tension between social and economic goals</p> Signup and view all the answers

    What does the market in the embedded economy refer to?

    <p>A market with shortcomings that over-stresses earth's resources</p> Signup and view all the answers

    What is the main focus of sustainable business management according to the text?

    <p>Creating shared value for businesses and society</p> Signup and view all the answers

    What are the boundaries defined in the doughnut economy concept?

    <p>Ecological ceiling and social foundation</p> Signup and view all the answers

    What is one proposed way to limit the power of companies in global trade?

    <p>'Reregulating' the existing market and embedding it in a new set of rules</p> Signup and view all the answers

    What contributes to added value within social groups in the embedded economy?

    <p>'Reconceiving products and markets' along with 'redefining productivity in the value chain'</p> Signup and view all the answers

    'New capitalism' emphasizes what in terms of growth according to the text?

    <p>'Value creation' over profit maximization</p> Signup and view all the answers

    'Building supportive industry clusters at the company’s locations' is primarily aimed at?

    <p>'Creating shared value'</p> Signup and view all the answers

    What does traditional capitalism consider as a trade-off?

    <p>Solving social problems at a cost</p> Signup and view all the answers

    Why should businesses be involved according to the concept of creating shared value?

    <p>To create shared value beneficial to both sides</p> Signup and view all the answers

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