____________________ Is the Amount of Biologically Productive Land and Water

question 75

Short Answer

____________________ is the amount of biologically productive land and water needed to supply the people in a particular country or area with an indefinite supply of renewable resources and to absorb and recycle the wastes and pollution produced by such resource use.

---

Definitions:

Positive External Benefits

benefits that result from a product or service's use that affect someone other than the direct buyer or seller, often leading to social gains.

Optimal Amount

The quantity of a good or service that achieves the best possible balance between costs and benefits.

Pigouvian Tax

A tax levied on activities that generate negative externalities, intended to correct the market outcome by internalizing the external costs.

Socially Optimal Level

The level of production or activity where the social benefits of consuming a good equal the social costs of producing it, often considered ideal from a societal perspective.