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

ECON403, Jack and Jill live alone on an island. Their labour supply schedu...

Jack and Jill live alone on an island. Their labour supply schedules are identical and given by L = (1 - t)w, where t is the income tax rate and w denotes the wage. Jill''s wage

Political trans-national activity, Q. Political Trans-national Activity? ...

Q. Political Trans-national Activity? The dynamics resulting from the institutional interdependencies are of major importance for an understanding of the process of political t

Explain what is economic growth, Question 1: i. Explain the likely effe...

Question 1: i. Explain the likely effects of a recession on a government's budget? ii. How is the operation of fiscal policy supposed to affect the level of economic activ

Command and control (cac), Normal 0 false false false E...

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

Improvement in seea over the sna , Normal 0 false false fal...

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

Uncertainties of the future and heterogeneity of agents, Introduce uncertai...

Introduce uncertainties in attainments of policy outcomes, winning of elections, optimistic and pessimistic expectations of agents and relate it to various adjustments and converge

What is corporate communication, Corporate communication can be anything fr...

Corporate communication can be anything from how a corporation functions internally/externally, to what is making its communications operate like call center equipment, etc.

Business environment, There is no doubt that the environment surrounding bu...

There is no doubt that the environment surrounding business organizations play an important role in influencing the decisions of those organizations and their strategic plans. That

Privatisation and decentralisation, critically examine that privatization c...

critically examine that privatization can always decentralize economic power

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