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Shelford's law of tolerance. Shelford's law of tolerance is a principle developed by American zoologist Victor Ernest Shelford in 1911. It states that an organism 's success is based on a complex set of conditions and that each organism has a certain minimum, maximum, and optimum environmental factor or combination of factors that determine ...
A market-based theory depends on proper pricing. Where resources such as clean air and water are not accounted for, there will be a "market failure". These failures may be addressed with Pigovian taxes and subsidies, such as a carbon tax. While the theory of the law of substitutability is a useful rule of thumb, some resources may be so ...
Trade-off. A trade-off (or tradeoff) is a situational decision that involves diminishing or losing on quality, quantity, or property of a set or design in return for gains in other aspects. In simple terms, a tradeoff is where one thing increases, and another must decrease. Tradeoffs stem from limitations of many origins, including simple ...
Genetically modified crops ( GM crops) are plants used in agriculture, the DNA of which has been modified using genetic engineering methods. Plant genomes can be engineered by physical methods or by use of Agrobacterium for the delivery of sequences hosted in T-DNA binary vectors. In most cases, the aim is to introduce a new trait to the plant ...
In the moral order, liberalism is the liberty to think, recognised and practiced. This is primordial liberalism, as the liberty to think is itself the first and noblest of liberties. Man would not be free in any degree or in any sphere of action, if he were not a thinking being endowed with consciousness.
Ecological economics, bioeconomics, ecolonomy, eco-economics, or ecol-econ is both a transdisciplinary and an interdisciplinary field of academic research addressing the interdependence and coevolution of human economies and natural ecosystems, both intertemporally and spatially. [ 1 ] By treating the economy as a subsystem of Earth's larger ...
A genetically modified tomato, or transgenic tomato, is a tomato that has had its genes modified, using genetic engineering. The first trial genetically modified food was a tomato engineered to have a longer shelf life (the Flavr Savr ), which was on the market briefly beginning on May 21, 1994. [ 1] The first direct consumption tomato was ...
In economics, an externality or external cost is an indirect cost or benefit to an uninvolved third party that arises as an effect of another party's (or parties') activity. Externalities can be considered as unpriced components that are involved in either consumer or producer market transactions. Air pollution from motor vehicles is one example.