Only environmental resources, unlike economic resources, such as capital and labor, are
considered to be scarce resources.
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Q1: Neoclassical economics is the dominant approach to
Q2: Neoclassical economists are fully aware of the
Q4: The provision of ecosystem services is essential
Q5: In many respects, there is little trade-off
Q6: A renewable resource is one that is,
Q7: Market price is an indicator of absolute
Q8: Market prices are market-clearing prices because they
Q9: Factor substitution suggests that basic resources do
Q10: It is possible to substitute natural capital
Q11: Environmental resources can always be substituted by
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