Identify one way the Industrial Revolution impacted the

�Identify one way the Industrial Revolution impacted the environment. DO NOW

How are the environment and economics interrelated?

�The law of supply and demand is based on the ratio of how much there is of something, and how much that something is needed or wanted. SUPPLY AND DEMAND

�The law of supply and demand is based on the ratio of how much there is of something, and how much that something is needed or wanted. �High demand: ◦ The more there is, the less its cost/value SUPPLY AND DEMAND

�The law of supply and demand is based on the ratio of how much there is of something, and how much that something is needed or wanted. �High demand: ◦ The more there is, the less its cost/value ◦ The less there is, the more its cost/value SUPPLY AND DEMAND

�A cost/benefit analysis is the ratio of the price of doing something and the benefits of doing it. COST AND BENEFITS

�A cost/benefit analysis is the ratio of the price of doing something and the benefits of doing it. ◦ High cost/high benefit: will be done COST AND BENEFITS

�A cost/benefit analysis is the ratio of the price of doing something and the benefits of doing it. ◦ High cost/high benefit: will be done ◦ High cost/low benefit: will not be done COST AND BENEFITS

�A cost/benefit analysis is the ratio of the price of doing something and the benefits of doing it. ◦ High cost/high benefit: will be done ◦ High cost/low benefit: will not be done ◦ Low cost/high benefit: will be done COST AND BENEFITS

�A cost/benefit analysis is the ratio of the price of doing something and the benefits of doing it. ◦ High cost/high benefit: will be done ◦ High cost/low benefit: will not be done ◦ Low cost/high benefit: will be done ◦ Low cost/low benefit: may or may not be done COST AND BENEFITS

�Part of the cost/benefit analysis RISK ASSESSMENT

�Part of the cost/benefit analysis �Analyzes the non-financial risks associated with an action. RISK ASSESSMENT

�Part of the cost/benefit analysis �Analyzes the non-financial risks associated with an action. ◦ High risk; less likely to do RISK ASSESSMENT

�Part of the cost/benefit analysis �Analyzes the non-financial risks associated with an action. ◦ High risk; less likely to do ◦ Low risk; likely to do RISK ASSESSMENT

�Developed countries DEVELOPING COUNTRIES

�Developed countries ◦ High income ◦ Low population growth DEVELOPING COUNTRIES

�Developed countries ◦ High income ◦ Low population growth ◦ Diverse economies ◦ Strong social supports DEVELOPING COUNTRIES

�Developed countries ◦ High income ◦ Low population growth ◦ Diverse economies ◦ Strong social supports �Developing countries DEVELOPING COUNTRIES

�Developed countries ◦ High income ◦ Low population growth ◦ Diverse economies ◦ Strong social supports �Developing countries ◦ Low incomes ◦ Agriculture based economy DEVELOPING COUNTRIES

�Developed countries ◦ High income ◦ Low population growth ◦ Diverse economies ◦ Strong social supports �Developing countries ◦ Low incomes ◦ Agriculture based economy ◦ Rapid population growth DEVELOPING COUNTRIES

�Local population pressures: are there enough resources to support growth? Population and Consumption

�Local population pressures: are there enough resources to support growth? �Consumption trends: how much resource is being used? Population and Consumption

�Local population pressures: are there enough resources to support growth? �Consumption trends: how much resource is being used? ◦ The developed nations use 75% of the resources with only 20% of the population Population and Consumption

�Local population pressures: are there enough resources to support growth? �Consumption trends: how much resource is being used? ◦ The developed nations use 75% of the resources with only 20% of the population �Ecological footprint: how much land is needed to support one person? Population and Consumption

�When human needs are being met so that the population can survive indefinitely, the conditions are considered sustainable. SUSTAINABILTY

�In groups, explain sustainability and the differences in how a developed and developing country might approach the problem of sustainability. ACTIVITY

�Text page 21, question 4. HOMEWORK