Environmental and Natural Resources Economics — Chapter Summary
ICSE · Class 12 · Environmental Science
Summary of Environmental and Natural Resources Economics for ICSE Class 12 Environmental Science. Part of the ICSE Class 12 Environmental Science syllabus.
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Overview
Environmental and Natural Resources Economics studies the relationship between the economy and the natural environment. It explains how ecosystems provide resources and waste-absorbing capacity, how human activity creates scarcity and degradation, and how economics can be used to measure, manage, an
Key Concepts
An ecosystem is a natural unit
An ecosystem is a natural unit consisting of all plants, animals and micro-organisms in an area together with the non-living factors of the environmen
The source function allows harvesting
The source function allows harvesting and recreation, but it gets depleted as resources are consumed. The sink function is the ability of the environm
A resource is a source
A resource is a source or supply from which benefits are produced. Resources have utility, limited availability, and consumption.
Renewable resources can be replenished
Renewable resources can be replenished or reproduced quickly, while non-renewable resources form over very long geological periods. Sunlight, air and
Biotic resources come from living
Biotic resources come from living or once-living sources such as forests, animals, coal and petroleum. Abiotic resources include land, water, air and
Learning Objectives
- Understand the major functions of an ecosystem: source and sink functions.
- Define resources and classify them by renewability, origin, stage of development, distribution, and ownership.
- Explain scarcity, growth, and the economic problem created by limited resources and unlimited wants.
- Describe natural resource accounting and physical accounting.
- Distinguish between GDP and GNP and understand their limitations.
Frequently Asked Questions
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Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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