Explain the concept of economic sustainability in a market economy.

Explain the concept of economic sustainability in a market economy.

Economic sustainability in a market economy refers to the ability of the economy to maintain long-term growth and development while ensuring the efficient allocation of resources, minimizing negative environmental impacts, and promoting social well-being. It involves balancing economic growth with environmental protection and social equity to ensure that future generations can meet their needs. This concept emphasizes the importance of sustainable production and consumption patterns, responsible resource management, and the inclusion of social and environmental costs in economic decision-making.