Economics and the Environment * Social Pressures *Economic Forces

The Law of Supply and Demand… “the greater the demand for a limited supply of something, the more that thing is worth” Examples: Oil prices, Superbowl tickets on Ebay, iPad & Wii (when they first came on the market)

Cost-Benefit Analysis… balances the cost of the action against the benefits one expects from it. (it often depends on who is doing the analysis) To an industry, the cost of pollution control may outweigh the benefits, but to a nearby community, the benefits may be worth the high price. Costs are often passed along to the consumer.

Risk Assessment… the potential for an undesirable outcome (part of cost-benefit analysis)

Developed vs. Developing Countries Higher avg. incomes Slower population growth Diverse industrial economies Stronger support systems Lower avg. incomes Rapid population growth Simple and agricultural based economies Developed: US, Great Britain, Canada “In-between”: Mexico, Brazil, Malaysia Developing: Ethiopia, Peru, Ecuador

Ecological Footprint shows the productive area of Earth needed to support one person in a particular country What country do you think has the largest “ecological footprint”? Why? What can be done to reduce it?

Sustainability the condition in which human needs are met in such a way that human population can survive indefinitely. What are some areas in which you could contribute?