Economics Environmental Externalities Questions
The concept of ecological economics is an interdisciplinary field that combines principles from both economics and ecology to study the interactions between the economy and the environment. It focuses on understanding the impacts of economic activities on the natural environment and aims to develop sustainable solutions that promote both economic growth and environmental conservation. Ecological economics recognizes the importance of valuing and accounting for natural resources and ecosystem services in economic decision-making, and emphasizes the need for long-term sustainability and the preservation of ecological integrity.