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CannonEssays
  1. Common Property:

  2. Depletion Allowance:

  3. Derived Demand:

  4. Effluent Charge:

  5. Entitlements:

  6. Exhaustible Natural Resources:

  7. Nonexhaustible Natural Resources:

  8. Reservation Price:

Papers

Natural Resources and The Environment

Common Property:

A system under which everyone has a legal right to harvest a resource. 

Depletion Allowance:

A feature of U.S. income taxation whereby part of the value of a resource that is removed from the earth is not counted as income to the owner of that resource. 

Derived Demand:

The demand for a resource that arises because of the demand for a good or service that the resource helps to produce. 

Effluent Charge:

The price charged for permission to dispose of waste. 

Entitlements:

Certificates that U. S. oil refiners were required to obtain in the 1970s in order to purchase domestic oil at low controlled prices. 

Exhaustible Natural Resources:

Those resources whose stock cannot be replenished. 

Nonexhaustible Natural Resources:

Resources such as energy from the sun, from winds, or from tides for which there is no conservation problem since the earth receives a continuing flow of them. 

Reservation Price:

A price below which a resource will be reserved for future use by its owner.