All "natural resources" which is used for production, called as non-economic resources. Do you agree this statement? Explain your answer
Answers
Answer:
A)
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. Resource economists study interactions between economic and natural systems, with the goal of developing a sustainable and efficient economy.[2]
B)
Three circles enclosed within one another showing how both economy and society are subsets of our planetary ecological system. This view is useful for correcting the misconception, sometimes drawn from the previous "three pillars" diagram, that portions of social and economic systems can exist independently from the environment.[1][unreliable source?]
