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Environmental and Natural Resources Economics

ICSE · Class 12 · Environmental Science

Quick revision notes for Environmental and Natural Resources Economics — ICSE Class 12 Environmental Science. Key concepts, formulas, and definitions for last-minute revision.

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.
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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.
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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.
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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?
Environmental and Natural Resources Economics covers several key topics that are frequently asked in ICSE Class 12 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Environmental and Natural Resources Economics — ICSE Class 12 Environmental Science?
Understand the core concepts first, then work through the 70 practice questions available for this chapter. Revise formulas and 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.

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