QED. See quod erat demonstrandum. quadratdquadrant sampling. Sampling or measurements done w t i ihn square-sided plots (e.g., looking at the density of different plant species by the amount of area covered by the plants). quality of life. A broad and holistic measure of the well-being of individuals within a society that includes consideration of health and health care, education, crime, environmental quality, and so on. See genuine progress index. quality of title. A property-right characteristic that refers to the de jure rights of the holder. quantified emissions limitations and reductions objectives (QELROs). The emission targets for greenhouse gases (GHGs) that Annex B countries in the Kyoto Protocol have committed themselves to meet. See Kyoto Protocol. quasi-option value. The welfare gain that comes from delaying a decision to use a natural resource when there are uncertainties about the payoff of alternative uses of the resource, and when at least one of the uses is irreversible. FURTHER READING Arrow and Fisher (1 974). quasi-rent. Earnings or returns to a fixed factor of production that is temporarily fixed in supply. Quasi-rent is the surplus over and above the variable costs of production but may still be less than the fixed costs and, thus, positive quasi-rents do not necessarily imply positive profits. Quaternary period. Geological period of time from 1.6 million years ago to the present. quid pro quo. Latin term for a mutual agreement to exchange. The term generally refers to the implicit understanding that a favor granted from one person to...
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