Overview
Valuation of ecosystem services is a crucial aspect of environmental economics that helps policymakers understand the economic benefits provided by natural ecosystems. By assessing these values, we can make informed decisions that promote sustainability and responsible resource management. The proce...
Key Terms
Example: Forests provide timber and clean air.
Example: Using market prices to value fish caught from a lake.
Example: Calculating the value of crops produced by pollinators.
Example: Asking people how much they would pay to preserve a natural park.
Example: Comparing the costs of pollution control to the benefits of improved health.
Example: Using renewable resources to ensure long-term availability.
Related Topics
Natural Resource Management
The responsible management of natural resources to meet current and future human needs.
intermediateEnvironmental Policy
The body of laws and regulations that govern how humans interact with the environment.
intermediateSustainable Development
Development that meets the needs of the present without compromising future generations.
advancedKey Concepts
Ecosystem ServicesEconomic ValuationPolicy ImplicationsSustainability