Sustainable Economic Development — Flashcards

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Environment means the total surroundings that affect life and economic activity. It includes biotic elements like plants, animals, forests, and fisheries, and abiotic elements like air, water, sun, la…

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Environment includes water, air, and land and the interrelationship which exists among and between water, air, land and human being and other creatures, plants, micro-organisms and property.

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The environment supplies resources, absorbs waste, sustains life, and provides aesthetic services such as natural beauty and scenery.

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Economic activity depends on nature for resources, waste absorption, life support, and comfort. If these functions are overstressed, development becomes unsustainable and creates environmental crisis.

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Renewable resources are resources that are not exhausted or depleted on use. Examples include trees in forests, sea animals, water, and sunshine.

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Non-renewable resources are resources that are exhausted or depleted on use. They are available as a fixed stock. Examples include coal, crude oil, oil, and gas.

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Renewable resources can be regenerated and are not exhausted quickly on use, such as forests and water. Non-renewable resources are fixed in supply and get exhausted on use, such as coal and crude oil…

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Environmental crisis means the worsening of the environment leading to significant welfare losses. It happens when pressure on the environment becomes greater than its carrying capacity.