1.
Environment can be defined as a sum total of all the living and non-living elements and
their effects that influence human life. While all living or biotic elements are animals,
plants, forests, fisheries, and birds, non-living or abiotic elements include water, land,
sunlight, rocks, and air.
2. Valuation methods include both demand and non-demand curve approaches, including
the dose-response method, contingent valuation method, and hedonic pricing. We further
discuss the damage schedules approach and benefits transfer in cases where conventional
valuation methods are less suitable.
3. It define the theoretical and legal ownership of resources and how they can be used.
These resources can be both tangible or intangible and can be owned by individuals,
businesses, and governments.
4. Externalities pose fundamental economic policy problems when individuals, households,
and firms do not internalize the indirect costs of or the benefits from their economic
transactions. The resulting wedges between social and private costs or returns lead to
inefficient market outcomes.
5. Sustainable development can be defined as an approach to the economic development of
a country without compromising with the quality of the environment for future
generations. In the name of economic development, the price of environmental damage is
paid in the form of land degradation, soil erosion, air and water pollution, deforestation,
etc.
6. Sustainability consists of fulfilling the needs of current generations without
compromising the needs of future generations, while ensuring a balance between
economic growth, environmental care and social well-being.
7. UN predicts human population will surpass 11 billion by the end of the century. As the
world's population grows, so do its demands for water, land, trees and fossil fuels — all
of which come at a steep price for already endangered plants and animals.
8. Natural resource economics deals with the supply, demand, and allocation of
the Earth's natural resources. One main objective of natural resource economics is to
better understand the role of natural resources in the economy in order to develop
more sustainable methods of managing those resources to ensure their availability for
future generations.
9. Biodiversity includes the number of different organisms and their relative frequencies in
an ecosystem. It also reflects the organization of organisms at different levels.
10. Acid rain is made up of highly acidic water droplets due to air emissions, most
specifically the disproportionate levels of sulphur and nitrogen emitted by vehicles and
manufacturing processes. It is often called acid rain as this concept contains many types
of acidic precipitation.
11a) Environmental valuation has traditionally been considered in the context of non-market
valuation. Its aim is to obtain a monetary measure of the benefit or cost to the welfare of
individuals and social groups of environmental improvement interventions or the consequences
of environmental degradation. Environmental valuation seeks to establish an explicit value,
usually monetary, for environmental factors in order to help planning and decision making
where, for example, the balance of benefit between development or preservation of natural
resources must be weighed and loss or damage to environmental assets has to be priced.
Economists argue that this is beneficial for the environment as it attempts to take into account
externalities and issues of social well-being in a logical, transparent way. However, many
environmentalists question the ability of market based tools to adequately value natural
resources. Much effort has gone into identifying and quantifying the contribution the
environment makes to economies, although the perspectives of so-called “green economics”
often fundamentally vary from those of conventional economics. The feasibility of accurate
environmental valuation is questionable but it is nevertheless worthy of effort, and debate on the
issues can only be useful in advancing understanding of the issues.
11b) Environmental Issues
Environmental issues are the harmful effects of human activities on the environment. These
include pollution, overpopulation, waste disposal, climate change, global warming, the
greenhouse effect, etc.
Various environment protection programs are being practised at the individual, organizational
and government levels with the aim of establishing a balance between man and the environment.
Some of the current environmental issues that require urgent attention are:
Climate Change
Climate change is a great concern in today’s scenario. This problem has surfaced in the last few
decades. Greenhouse gases are the major cause of climate change. Environmental changes have
several destructive impacts such as the melting of glaciers, change in seasons, epidemics, etc.
Global Warming
The burning of fossil fuels, emissions from automobiles and chlorofluorocarbons add to the
greenhouse gases in the atmosphere. This has led to an increase in the earth’s temperature
causing environmental changes. This increase in temperature across the globe is known as global
warming.
Ozone Layer Depletion
The ozone layer is a layer of concentrated ozone gas. It protects us from the sun’s harmful
ultraviolet rays. This very important layer is being destroyed by CFCs (chlorofluorocarbons),
which are used in industries and everyday life (e.g. aerosol cans).
The chlorine in these compounds destroys the ozone layer. The hole in the ozone layer leaves
humans and wildlife exposed to harmful UV rays resulting in several skin diseases including
cancer.
Water Pollution
The introduction of harmful substances into rivers, oceans, lakes and ponds, which changes the
physical, chemical or biological condition of the water is called water pollution. The polluted
water lacks oxygen and therefore the organisms die.
Water is the main source of life and therefore it is our prime duty to prevent it from any kind of
pollution.Air pollution is the result of emissions from industries, automobiles, and the increasing
use of fossil fuels. The gaseous emissions have added to an increase in the temperature of the
earth. Not only this, but it had also increased the risk of diseases among individuals.
12a) Property rights are commonly identified as a right to own or possess something, such as
land or an automobile, and to be able to dispose of it as one chooses. However, this is only one
aspect of property rights that focuses on the exclusive right to ownership. To have a right to
property is also to have an enforceable claim to the use or benefit of something; the concept of a
property right distinguishes between momentary use or possession of something and a claim to
the thing which will be enforced by society or the state. For example, the claim can be in the
form of a license or lease to common property that gives the individual exclusive rights to secure
a portion of that property, such as through a fishing license. So, property rights distinguish not
only exclusive ownership of private property, but also rights shared and observed with others in
common property. Property rights specify both the proper relationships among people with
respect to the use of things and the penalties for violating those relationships. Property rights are
often referred to in the literature as a bundle of rights, in which ownership is distributed in a
variety of ways. Bundles of rights confer certain opportunity sets for the individual. The
opportunity set defines the various lines of action open to the holder of the bundle. As well, the
relative capacity of the individual to make use of the rights is important in defining their
opportunity set. The available resources, technology, and knowledge determine the extent to
which a person can exercise his or her property rights.
12b) Sustainable development can be defined as an approach to the economic development of a
country without compromising with the quality of the environment for future generations. In the
name of economic development, the price of environmental damage is paid in the form of land
degradation, soil erosion, air and water pollution, deforestation, etc. This damage may surpass
the advantages of having more quality output of goods and services.
Sustainable Development Goals
To promote the kind of development that minimises environmental problems.
To meet the needs of the existing generation without compromising with the quality of
the environment for future generations.
Achieving Sustainable Development
Sustainable development can be achieved if we follow the following points:
It can be achieved by restricting human activities.Technological development should be input
effective and not input utilising.The rate of consumption should not surpass the rate of
salvation.For renewable resources, the rate of consumption should not surpass the rate of
production of renewable substitutes.All types of pollution should be minimised.It can be
achieved by sensible use of natural resources.
13a) Natural resource economics is a field of economics that studies how people use and manage
natural resources. It draws on environmental, economic, and management principles to analyze
how natural resources are used. The goal of natural resource economics is to understand how to
manage these resources in a way that meets human needs while conserving the environment.
Within the context of economics, natural resources are materials and energy that occur naturally
and are used in economic activities. Some examples of natural resources include wind, water,
food, timber, and minerals. Natural resource economics focuses on the sustainable use of these
resources. This means using them in a way that meets present needs without jeopardizing the
ability of future generations to meet their needs.
There are many challenges to sustainable natural resource use. One challenge is finding a
balance between human needs and environmental protection. Another challenge is managing
resources that are not renewable, such as fossil fuels. A third challenge is dealing with the
unequal distribution of natural resources around the world.
Natural resource economics is important because it can help people to find ways to sustainably
use the natural resources available as well as help them to better understand how to manage and
conserve these resources. In this way, natural resource economics is a tool that can be used to
make decisions about how to use and protect natural resources.
13b) India is one of the densely populated countries of the world. It has to support about the
world population, although its land area is merely 2.4% of the land area of the world. people
between 1991 and 2001 but the rate of growth in this decade shows the sharpest decline since in-
dependence.The exponential rate of growth of population (annual) in the decades 1991-2001 was
1.9% as against 2.1% the previous decade. The rate of population growth depends on the
difference between the birth rate and the death rate. Thus, the population growth experienced in
India can largely be explained by variations in birth and death rates.The death rate continued to
fall over the entire plan period. But the birth rate continues to remain high by current standards.
As a result there has been a net addition to the size of the population.A study of India’s
demographic trends during the last five decades reveals that the death rate has fallen much faster
than the birth rate. The death rate has already fallen to a very low level There is no scope for
reducing it further. But the birth rate continues to be high by current standards. Therefore, in
future India’s population will be a function of birth rate alone.
14a) Localized air pollution is one of the most widely discussed topics in the environmental
community. The most significant sources of air pollution are road transport. The air pollution
becomes localized in particularly dense area of traffic such as on roads in and around cities.
CO2 and NO2 are emitted for the exhaust pipes of cars and trucks and can cause smog and
adverse health effects. In addition to this, construction site are also a contributor to localized air
pollution as the emissions from non-road mobile machinery usually stay within the site itself,
causing problems for workers. It should also be noted that industrial processes, such as factories
can cause significant air pollution of the surrounding environment.Distressingly, according to the
European Environmental Agency, it is estimated that there are contaminated sites in Europe,
however, only around of these sites have been discovered and remediated. Contaminated soil
sites are classed as localized pollution, as they are localized to one specific place. In the study, it
was identified that source of contamination for nearly 40% of these sites was waste disposal and
treatment, followed by industrial activities. Transport spills on land made up of 7% of the
contaminated sites and the military was found as a contamination source According to the EEA,
nuclear operations were not to blame for any contaminated sites found.
Localized pollutions occur on smaller scales than huge environmental incidents but there impacts
are no less significant. Localized pollution of air, soil and water can cause large scale damage to
the natural environment, cause health incidents of both animals and humans and even have
economic and social impacts. It is import to monitor and control these environmental crimes in
order to preserve the world that we live in.
14b) The word biological diversity refers to all forms of life, including plants, animals, fungi,
and microorganisms. There are three levels of biological diversity, Species diversity refers to the
variety of species that exist., Genetic diversity refers to the range of genes found in plants,
animals, fungi, and microbes, and ecological diversity refers to the various habitats that occur.
Importance of biodiversity:
Biodiversity maintains the ecological balance.
It helps in the healthy existence of humans and other species in the ecosystem.
It helps in high productivity and human wellness.
Biodiversity provides humans with valuable genetic diversity. Because genetic material is
the result of millions of years of evolution, biodiversity preservation is critical.
Biodiversity is a good indicator of our interdependence with other living things.
