1.  In relation to econ systems, many analyses of economic systems mix  ___________________  systems w/ economic systems & indeed in the past there was no social sciences of politics or economics, rather social scientists examined political economic systems

2.  In relation to econ systems, one of the fundamental functions that any economic system must fulfill is that an economic system impacts how & when to adapt to  _____________________________

3.  In relation to the economy & the social sciences, the market concentration or  _______________________________  Economics that is inherent in capitalism makes it difficult for unions to respond to ever bigger businesses

4.  In relation to the economy & the social sciences, since 1950 there has been a shift in the 1st World from goods to  ____________________________  because people have the disposable income to consume services such as travel & entertainment

5.  In relation to the premises of capitalism, the rational, economic person is a model of humanity which assumes we do  ________________________________  calculation  

6.  In relation to pure capitalism, for economists,  ________________________  are the total payments made to "homes" including workers, land owners, capital suppliers

7.  In relation to pure capitalism, for economists,  _______________________________  are different than needs

8.  In relation to capitalism & profit maximization, for modern economists & Marx, economically  __________________  behavior is that which brings the maximum possible return in income, wealth, or profits

9.  In relation to capitalism & profit maximization, it seems that if an individual, class, or even society is isolated from inequality, i.e. does not have to view others w/ more wealth, then people are  ______________________________  w/ their own level

10.  Market failures are built in, normal functions of the mkt in which the system produces mkt  ___________________  in the form of booms or busts

11.  In relation to the commons, modern economists advocate  __________________________________  all resources, even those that are indivisible such as air, water, etc., via a stock mkt, share system 

12.  In relation to externalities, the costs of attracting mfrs reduces local  _____________________  & then local services must be curtailed

13.  In relation to externalities, if all regions in a nation are offering  ______________________ , then no regions receive any benefits over other regions because they all cancel each other out

14.  In relation to public goods, the benefit of public goods  _______________________________  over to many people / the public 

15.  In relation to the econ functions of govt, the govt uses its econ functions to shape our economy when it increases demand to prime the econ & to correct for  _______________________________ 

16.  In relation to the econ functions of govt,  ________________________________  costs occurs when the govt estbs regs or taxes to make an econ actor pay for an externality 

17.  In relation to the limits to neoclassical econ, govts, charities, soc mvmts, NGOs, etc. all function, at least in part to make the system recognize individual & social  ____________________________

18.  In relation to the limits to neoclassical econ, because peoples lives, the welfare of a society, the welfare of an env, community property, etc. are all  ____________________________  goals, pure cap has difficulty addressing both their needs & wants 

19.  In relation to the econ & the env, the property rights school & the neoclassical approaches hold that envl protection can be achieved by the  ______________________________________

20.  In relation to the econ & the env,  __________________________________  pricing is the practice where prices & demand are compared to real life similar goods:  e.g. Nat Park prices are compared to RV park prices 

Essays should be two, average length, hand written pages long.  Be sure & answer all parts of the question.  Good penmanship, grammar & spelling are important. 

1.  In relation to the econ & the env, discuss the most important aspects of the relationship btwn the econ & the env.  Summarize the major differences btwn the 'neoclassicist & liberal' positions on the env.  Next, pick an envl component & use it as an example to explore the 'neoclassicist & liberal' positions on the env