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

Micro economic, Explain the nature &importance of micro economic?

Explain the nature &importance of micro economic?

Policy frameworks and decision process, With a background from the previous...

With a background from the previous section we now study some of the critical characteristics of policy process. You have already studied earlier various technical theories relatin

Healthcare Economics, Consider two different consumer-directed health plans...

Consider two different consumer-directed health plans. One has a $5000 deductible, with the insurance paying for all care after the deductible has been met. The other has a $2000 d

Pigovian approach, PIGOVIAN APPROACH   Pigou assumed  that  the aim  of...

PIGOVIAN APPROACH   Pigou assumed  that  the aim  of  social policy is  to  'promote welfare'. But  in order to simplifL  this, he chose to restrict the range of his inquiry to

Personal income tax, How does it work? how is its basic structure?

How does it work? how is its basic structure?

TAXATION, what are the taxations most important of Colombia country

what are the taxations most important of Colombia country

#titlTaxation, Theory of optimal tax system is relevant for tax policy issu...

Theory of optimal tax system is relevant for tax policy issue

Why do people earn different amounts of wages, Question 1: i) Describe ...

Question 1: i) Describe the concept of circular flow of income. ii) Comment on the view that ‘GDP is the best measure to evaluate economic growth and standard of living'. iii)

Indifference curve, eiplain why indifference curve are convex to the origin...

eiplain why indifference curve are convex to the origin

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