Valuation of environment, Public Economics

Assignment Help:

Valuation of Environment

Environment plays an important role in an economy. First, it contributes to production of output by supplying inputs such as raw materials (minerals, crude oil, coal, forest products, and many others), genetic resources, oxygen and water. Second, it regulates climatic conditions through changes in the levels of carbon dioxide, solar energy, moisture, soil fertility and erosion, etc. Thus, it provides avenues for many other activities such as tourism and recreation. Fourth, it is a carrier of life on earth and provides habitat for people. Fifth, it absorbs the wastage generated during production as well as consumption of goods as a sink for effluents and emissions.

Over time there has been depletion of natural resources and degradation of environment which have adversely affected quality of life. Although its intensity differs across geographical regions, and depends upon the level of economic development &d cultural factors, the problem of environmental degradation has been witnessed everywhere at all levels. A major reason behind environmental degradation is the fact that we presume many environmental actions to be freely available to us and thus assign zero economic value. A proper understanding of the value of environment would help in creation of awareness among stakeholders and allocation of adequate resources towards improvement in the quality of environment.


Related Discussions:- Valuation of environment

Study guide for Magruder''s American Government, study guide for Magruder''...

study guide for Magruder''s American Government. the tests are supper hard

Graphthe market for water park business, Graphthe market for water park bus...

Graphthe market for water park business, labeling the demand curve, the social-value curve, the market equilibrium level of output, and the efficient level of output. What is the p

Policy composition and policy reversal, Let us now consider a situation in ...

Let us now consider a situation in which we know the timing of a change in policy but are unsure about the composition of the future policy. The association of different policy co

Regulations and competition policy - privatization, One of these is deregul...

One of these is deregulator or privatization of public enterprises or utilities. Deregulation is a world wide phenomenon. But experience of power failure in California and Mumbai r

Explain the negative consequences of population growth, Question 1: (a)...

Question 1: (a) Describe and distinguish between the Linear Stages Theory and the Structural Change Models. (b) What are the limitations of each of the above two models.

Model without stock effects, Normal 0 false false false ...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Identify the main purposes of its e-government website, QUESTION (i) ‘T...

QUESTION (i) ‘The area of E-Government encompasses three major domains. These domains address the problems that Government is too inefficient and ineffective; too selfserving a

Importance of heterogeneity, Q. Importance of heterogeneity? The import...

Q. Importance of heterogeneity? The importance of heterogeneity for public policy process can be summarized in two propositions. - Heterogeneity or conflict of interests is

Public finance, Public Finance was always dealing with intervention through...

Public Finance was always dealing with intervention through fiscal instruments, including federal relationships between different tiers of governments and later on it subsumed Publ

Discuss the forces impacting on good governance, Question: (a) There ap...

Question: (a) There appears to be an emerging consensus that the movement towards good governance must include initiatives to strengthen the institutions of government and civi

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd