Across
- 2. the cost a party should be charged by resulting damage to external area or public.
- 3. values usually not included in the price of a good or service (aesthetic pleasure of natural landscape).
- 4. examines consumer choices and explains market prices in terms of preferences for units of particular commodities.
- 7. when publicly accessible resources are open to unregulated exploitation, they tend to become overused, damaged, or depleted.
- 9. the process by which the world’s societies have become more interconnected, linked by trade, diplomacy, and communication technology in countless ways.
- 11. a cost of a transaction that affects someone other than the buyer or seller.
- 14. an approach that is used by sellers in growing, harvesting, or manufacturing products and advertised it on their products to win approval from buyers.
- 17. arises from conventions, treaties (written contracts), into which nations enter (i.e. Paris Agreement). Indonesia entered and signed this agreement/treaty on April, 22nd, 2016.
- 20. to set rules, standard, limit certain actions and threaten punishment to those who violate.
- 21. long standing practices, customs held in common by most cultures.
Down
- 1. the party who avoids the efforts others are making; for example, when people discard their waste in dumpsters, there are still those who litter.
- 3. fossil fuels are .... resources.
- 5. philosopher who found classical economics concept
- 6. conventional economic activity and add it to positive contributions not paid with money such as volunteer work, parenting and subtract negative impacts suchas crime and pollution.
- 8. the first to develop methods to tackle the problems of external costs and discounting.
- 10. thinks that sustainability requires more far-reaching changes. It should mirror the natural system (steady-state economy).
- 12. tax on an environmentally harmful activity or product.
- 13. is meant to reflect how people tend to grant more importance to present conditions than to future
- 15. polluters can trade their surplus cap limit allowed by government to those who need it because these polluters have excessed their limits.
- 16. the study on how people decide on howto use potentially scarce resources to provide goods and services that are in demand.
- 18. a social system that converts resources into goods and services.
- 19. self-interested economic behavior can benefit society, as long as the behavior is constrained by the rule of law and private property rights within a competitive