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Environmental and Natural Resources Economics — Revision Notes

ICSE · Class 12 · Environmental Science

Environmental and Natural Resources Economics revision notes for ICSE Class 12 Environmental Science: 4 topics in quick points.

70 questions44 flashcards5 concepts

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Key Topics to Revise

1

1. Ecosystem, Source Function, and Sink Function

  • 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 environment.
  • Human-made environments are also included as human or agro ecosystems.
  • Ecosystem services can be grouped into source and sink functions.
2

2. Resources and Their Classification

  • A resource is a source or supply from which benefits are produced.
  • Resources have three main characteristics: utility, limited availability, and consumption.
  • Resources cannot be consumed in their original form; they must be developed or processed into usable commodities.
3

3. Natural Resource Accounting and Income Measurement

  • Natural resource accounting keeps a record of stocks and flows of natural resources.
  • It helps governments, firms, and consumers make decisions for sustainable development.
  • Many countries have worked on environmental accounts integrated with national accounts.
4

4. Environmental Economics, Ecological Economics, and Defensive Expenditure

  • Environmental economics applies economic tools to environmental problems.
  • It is more pragmatic in a price system.
  • It focuses on human demands and market failure.

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Full Notes

Key Concepts

An ecosystem is a natural unitThe source function allows harvestingA resource is a sourceRenewable resources can be replenishedBiotic resources come from living

Frequently Asked Questions

What are the important topics in Environmental and Natural Resources Economics for ICSE Class 12 Environmental Science?
Key topics in Environmental and Natural Resources Economics include Ecosystem, Source Function, and Sink Function, Resources and Their Classification, Natural Resource Accounting and Income Measurement, Environmental Economics, Ecological Economics, and Defensive Expenditure. Study these first, then practise questions on each for the ICSE Class 12 board exam.
How should I revise Environmental and Natural Resources Economics for the ICSE Class 12 board exam?
Learn the core ideas first, then work through the 70 practice questions on Environmental and Natural Resources Economics. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

More resources for Environmental and Natural Resources Economics

All ICSE Class 12 Environmental Science Revision Notes

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