Economic ; environmental approaches of resource utilization
Answers
Explanation:
Economic approach
The economics of natural resources and the environment provides a set of theories and conceptual tools to monitor, analyse, evaluate, and regulate (Dales, 1968; Arrow and Fisher, 1974; Bromley, 1991). In particular, economics provides a model for the sustainable use of renewable natural resources in the form of management tools, such as taxes, quotas, grants, subsidies, standards, licences, permits, property rights, and market rights.
In addition, environmental economics relies on a representation of the circular interaction between humans and nature. The environment provides services to society which can be quantified. In return, Man transforms the environment-this action constitutes an externality-and by so doing, restricts the decisions that can be made by other agents. Appropriate policies and management tools can be used to ensure that natural services are used efficiently and to compensate for the externalities. Economic methods of monetary evaluation can be applied to both services and externalities.
Thus, different possible uses of an ecosystem or a landscape can be compared. Economic methods of evaluation-based on the capacity to clarify representations-can be applied to several types of problems. They are presented as negotiation methods for stakeholders.
One of the weaknesses of the economic approach is its failure to account for the temporal dimension when it comes to finding a balance between resources and society.
Ecological economics has improved on this by adding the concept of the co-adaptation between the natural and social worlds. In addition, the dynamics differ from a series of balanced situations. Systemic models that represent the dynamics using stocks-flux relationships are often used (Clark, 1990).