Business & Society Final Exam

1. What is the definition of Ecology?

The study of historical events that have shaped the Earth’s ecosystems

The study of how living things interact with one another on other planets

Study of how living things interact with one another in the Earth’s ecosystem (air, water, land)

The study of how non-living things interact with one another in the Earth’s ecosystem

Ecology specifically focuses on the interactions among living organisms and their environment on Earth.

Explanation

Ecology specifically focuses on the interactions among living organisms and their environment on Earth.

2. What are some of the current and future pressures on ecosystems?

Exponential growth: of the world's population [certain areas at certain times]
Income Inequality: poor individuals are unable to make resources renewable so they use more than they should and rich people use more than they need

Climate change is the biggest threat to ecosystems

Technological advancements are helping ecosystems thrive

Wildlife conservation efforts are eliminating all ecosystem threats

Exponential population growth and income inequality are significant challenges that impact ecosystems by increasing resource consumption beyond sustainable levels.

Explanation

Exponential population growth and income inequality are significant challenges that impact ecosystems by increasing resource consumption beyond sustainable levels.

3. What are Global Commons and the Tragedy of the Commons?

Public resources that are managed by the government

Open resources that can be accessed by anyone without restrictions

Private resources that are individually owned

Shared resources that a group uses collectively

If all individuals attempt to maximize their own private advantage in the short term, the commons may be destroyed and all users lose [individual freedom vs freedom of others to use the resource]

Tragedy of the Commons: Freedom in a common brings ruin to all

The concept of Global Commons and the Tragedy of the Commons pertains to shared resources that a group collectively uses. If individuals prioritize only their short-term private advantage, the commons may be destroyed for all users, resulting in the so-called Tragedy of the Commons.

Explanation

The concept of Global Commons and the Tragedy of the Commons pertains to shared resources that a group collectively uses. If individuals prioritize only their short-term private advantage, the commons may be destroyed for all users, resulting in the so-called Tragedy of the Commons.

4. What is the definition of Sustainable Development?

Meets the needs of the present without compromising the ability of future generations to meet their own needs
Eradicate poverty and develop the world economy in a way that doesn't degrade the environment

Maximizing profit at the expense of the environment

Using resources without concern for the future

Neglecting social equity and focusing solely on economic growth

Sustainable Development aims to balance economic, social, and environmental aspects to ensure the well-being of current and future generations without depleting resources or causing harm to the environment.

Explanation

Sustainable Development aims to balance economic, social, and environmental aspects to ensure the well-being of current and future generations without depleting resources or causing harm to the environment.

5. What does Earth's Carrying Capacity mean?

World’s resource base is essentially finite and bounded Ecological footprint: what you need to consume in resources (land/water/food) in order to live

The world's resource base is infinite and unlimited

Consuming resources has no impact on the environment

Earth can sustain an unlimited number of people

Earth's carrying capacity refers to the maximum number of individuals of a species that can be supported sustainably by a given environment. It is determined by the availability of resources such as food, water, and space, which are finite and bounded.

Explanation

Earth's carrying capacity refers to the maximum number of individuals of a species that can be supported sustainably by a given environment. It is determined by the availability of resources such as food, water, and space, which are finite and bounded.