isb 202 isb 202 exam 1 isb 202
isb 202
isb 202 final exam- cumulative ecological economics 1. what are the limitations of using gnp and gdp as measurements for economic success? changes in quality and the inclusion of new goods 2. what are internal and external costs? internal: factors which drive the market price external: harmful effects passed on 3. what is full cost pricing? the practice where the price of a product is calculated on the basis of its direct costs per unit of output + overhead pricing 4. what are some other measurements of well-being? genuine progress index (gpi), environmental performance index (epi), human development index (hdi) 5. what is meant by fair trade? when producers receive a fair price- 