GEOG 2000 Lecture Notes - Lecture 13: Marginal Cost, Marginal Revenue, Mitigation Banking

• School: Dalhousie University
• Department: Geography
• Course: GEOG 2000
• Professor: Patrice Cote

Document Summary

Commercial extinction- usually only a temporary depletion of fish stocks, as long as depleted areas and fisheries are given time to recover. Bycatch- the unwanted fish and other marine creatures caught during commercial fishing for a different species. Ballast water- fresh or salt water, sometimes containing sediments, held in tanks and cargo holds of ships to increase stability and maneuverability during transit. Whaling- the practice or industry of hunting and killing whales for their oil, meat, or whalebone. Maximum sustained yield (msy)- is the largest long-term average catch or yield that can be taken from a stock or stock complex under prevailing ecological and environmental conditions. Optimum sustained yield (osy)- is the level of effort (loe) that maximizes the difference between total revenue and total cost. Mitigation banking- is the preservation, enhancement, restoration or creation (perc) of a wetland, stream, or habitat conservation area which offsets, or compensates for, expected adverse impacts to similar nearby ecosystems.