Economic Approaches (Leaving Cert CASD): Flashcards

Private ownership, competitive markets, profit pursuit

Environmental costs ignored by firms, passed to society

Reducing economic activity (esp. wealthy nations) to respect ecological limits & improve wellbeing

Replacing fossil fuels with renewable biological resources

Kate Raworth

Social foundation - basic human needs like food & healthcare

Ecological ceiling - planetary boundaries like climate

Eliminating waste by keeping products & materials in use

Prioritising immediate profits over long-term sustainability

Competition between crops for biofuels vs food security