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.
What are the functions of the environment?
Highlight any two serious adverse environmental consequences of development in India. India’s environmental problems pose a dichotomy — they are poverty induced and, at the same time, due to affluence in living standards — is this true?
Explain the supply-demand reversal of environmental resources.
What happens when the rate of resource extraction exceeds that of their regeneration?
India has abundant natural resources —substantiate the statement.
Give two instances of
(a) Overuse of environmental resources
(b) Misuse of environmental resources.
Is environmental crisis a recent phenomenon? If so, why?
Explain the relevance of intergenerational equity in the definition of sustainable development.
Identify six factors contributing to land degradation in India.
Two major environmental issues facing the world today are ____________ and _____________.
What was the focus of the economic policies pursued by the colonial government in India? What were the impacts of these policies?
What are the two major sources of human capital in a country?
What do you mean by rural development? Bring out the key issues in rural development.
Define a plan?
Who is a worker?
Explain the term ‘infrastructure’.
Why are regional and economic groupings formed?
Why were reforms introduced in India?
Why calorie-based norm is not adequate to identify the poor?
Name some notable economists who estimated India’s per capita income during the colonial period?
Why was the public sector given a leading role in industrial development during the planning period?
What do you mean by agricultural marketing?
Define worker-population ratio.
Explain the statement that the green revolution enabled the government to procure sufficient food grains to build its stocks that could be used during times of shortage.
Though the public sector is very essential for industries, many public sector undertakings incur huge losses and are a drain on the economy’s resources. Discuss the usefulness of public sector undertakings in the light of this fact.
Explain how import substitution can protect domestic industry.
Are the following workers — a beggar, a thief, a smuggler, a gambler? Why?
Explain the need and type of land reforms implemented in the agriculture sector.
Why are employment generation programmes important in poverty alleviation in India?
What is the meaning of quantitative restrictions?