To economists, good environmental policy begins by acknowledging one of the Ten Principles of Economics:
A)Trade can make everyone better off.
B)People face trade-offs.
C)Markets are usually a good way to organize economic activity.
D)A country's standard of living depends on its ability to produce goods and services.

Question

Quizplus · Accepted Answer

The principle that people face trade-offs is directly applicable to environmental policy because choices need to be made between economic growth and environmental conservation. Economists argue that it is possible to achieve a balance between the two, but acknowledging the trade-offs is the first step towards developing effective environmental policies. The other principles are also important, but not as directly related to environmental policy.

To Economists, Good Environmental Policy Begins by Acknowledging One of the Ten