Welcome to the NCERT Solutions for Class 11 Economics - Indian Economic Development - Chapter Environment and Sustainable Development. This page offers a step-by-step solution to the specific question from Exercise 1, Question 8:
Explain how the opportunity costs of negative environmental impact are high.
. With detailed answers and explanations for each chapter, students can strengthen their understanding and prepare confidently for exams. Ideal for CBSE and other board students, this resource will simplify your study experience.Explain how the opportunity costs of negative environmental impact are high.
Opportunity cost is the cost that is foregone when we make a choice or a decision. If a piece of land is to be used for wheat production then the production of say, rice, is to be sacrificed. The loss of rice production is the opportunity cost of producing wheat. In the similar way, the cost of a negative environment is the opportunity cost of huge expenditure incurred on health and searching for new alternatives. This is explained elaborately in the following paragraph; When the resources are extracted at a more rapid pace than its regeneration, then we say that the carrying capacity of the environment reduces. In such a situation, the environment fails to perform its function of sustaining life, thereby, resulting in environmental crises. In other words, environmental crises are an aggregate outcome of excessive exploitation of natural resources and excessive generation of wastes. Therefore, there arises a need for exploration of new alternative eco-friendly resources to avoid an environmental crisis. Moreover, environmental crises lead to greater incidence of respiratory and water borne diseases, necessitating higher health expenditures and investments. The costs involved in searching new alternative resources together with the greater health expenditures constitute the opportunity costs of negative environmental impact. Such opportunity costs are very high and require voluminous financial commitments by the government. Therefore, the opportunity costs of negative environmental impact are high.
Match the following:
|
1. Prime Minister 3. Quota 4. Land Reforms 5. HYV Seeds 6. Subsidy |
A. Seeds that give large proportion of output C. Chairperson of the planning commission D. The money value of all the final goods and services produced within the economy in one year. E. Improvements in the field of agriculture to increase its productivity F. The monetary assistance given by government for production activities. |
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Welcome to the NCERT Solutions for Class 11 Economics - Indian Economic Development - Chapter . This page offers a step-by-step solution to the specific question from Excercise 1 , Question 8: Explain how the opportunity costs of negative environmental impact are high.....
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