Economic Approaches (Leaving Cert CASD): Quizzes

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Economic Approaches
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What are the three core features of capitalism as an economic system?

Private ownership, markets, profit pursuit

What are 'externalities' in the context of capitalism's environmental impact?

Environmental costs passed to society

What is 'short-termism' as a criticism of capitalism?

Prioritising immediate profits over long-term

What is the core argument of degrowth as an economic approach?

Endless growth can't coexist with limits

What is a major challenge facing degrowth implementation?

Concerns about job losses in shrinking areas

What does the bioeconomy approach aim to replace?

Fossil fuels with biological resources

What is a key risk of the bioeconomy related to food?

Using agricultural land for biofuels not food

In doughnut economics, what does the inner ring represent?

Social foundation of basic human needs

Which city adopted doughnut economics in 2020 for post-Covid recovery?

Amsterdam

What does the circular economy aim to do?

Close the loop by eliminating waste

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