Environmental economics considers the impact of human activity on the environment from "summary" of Economics for Beginners by Andy Prentice,Lara Bryan
Environmental economics delves into the relationship between human behavior and its consequences on the natural world. It explores how our actions, such as production, consumption, and waste generation, affect the environment. This field of study highlights the interconnectedness between economic decisions and environmental outcomes, emphasizing the need to consider both aspects in decision-making processes. By analyzing the costs and benefits associated with environmental degradation, environmental economics seeks to provide insights into how to best manage resources and minimize negative impacts on ecosystems. It encourages policymakers, businesses, and individuals to take into account the long-term effects of their activities on the environment, rather than focusing solely on short-term gains. One key aspect of environmental economics is the concept of externalities, which are the unintended side effects of economic a...
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