Exam (elaborations)
ECS2606 Possible exam questions 2022
- Institution
- University Of South Africa (Unisa)
This document contains possible exam questions for ECS2606 Exam.
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ECS 2606Possible Examination Questions
1. Explain the difference between neoclassical environmental economics,
resource economics and ecological economics. [10]
2. Differentiate between environmental, economic and regulatory impact
analysis. [10]
3. Make use of examples to explain the difference between opportunity cost and
external cost. [10]
4. Explain the fundamental balance between consumers, producers and
residuals. [10]
5. Briefly explain the concepts of ecological footprinting, carbon footprinting and
water footprinting. [10]
6. How does the environmental impact of individuals with a high income differ from
that of individuals with a low income? [10]
7. What is contingent valuation and what are the potential problems of this method?
[10]
8. Use a graph to explain how the equimarginal principle can be applied to
minimise production costs. [10]
9. Make use of your own example to explain the concept of market failure. [10]
10. Name and explain briefly the three types of decentralised policies. [10]
11. Provide a detailed explanation of the concept of willingness to pay by
discussing revealed preference methods and the contingent valuation
approach. [25]
12. Explain the role of both developed and developing countries in global warming.
Also, indicate 12.how developed countries can assist developing
countries. [25]
13. Discuss in detail the different approaches to sustainable development. [25]
14. Briefly discuss the following methods that can be used to determine the
willingness to pay for benefits. [25]
(a)Averting costs
1
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