Environmental and resource economy

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Environmental and resource economy



Environmental economics is a subset of economics concerned with the efficient utilisation of resources. Because the environment provides both direct value and the raw material intended for economic activity, Environment and the economy are interdependent. 





Natural resource economics focused on the supply, demand and location of the earth's natural resources. Its goal is to gain a better understanding of the role of natural resources in the economy.






Learning about the role of natural resources allows for the development of sustainable method to manage resources and make sure that they are maintained for future generation. The goal of natural resources Economics is to develop an efficient economy that is sustainable in the long run. 





Types of natural resources




Natural resources are derived from the environment. Some of the resources are essential to Survival, while others mere liye satisfy social wants. every man made products in an economy is composed of natural resources to Some degree.


There are numerous want to classify the types of natural resources, Dainik Ludo source of origins, the state of development, and the renewability of the resources.





In terms of source of origin :


(1) biotic - 


       This resource home from living and organic material. Its include forest animals etc.


(2) Abiotic - 


    This resource come from non living and non organic material. IIT includes land, freshwater, air and heavy metals .





Based on storage of development :



  1. Potential resources

  2. Actual resources

  3. Reserve of resources

  4. Stock resources   



Best on renewability :


  (1) renewable natural resources-


          These are resources that can be                replenished.



          Ex- Sunlight,air,wind


  (2) non-renewable


         This resources form extremely slow and do not naturally form In the environment. 


       Ex - minerals and fossil fuels.













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