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In: Economics

How does Climate Change Impact our Economy?Do you think climate change will have an impact on...

How does Climate Change Impact our Economy?Do you think climate change will have an impact on economic decisions? If yes, how? On what type of industries? (2-3 paragraphs)

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Expert Solution

Climate change can be attributed to increasing carbon dioxide in out atmosphere . Due to global warming , pollution , climatic changes our economy will face many difficulties . Firstly , fishing , agriculture , forestry industry will face great risk because they are directly dependent on natural resources which are getting depleted day be day due to climatic changes . Marine life is shrinking causing less supply of food . Natural disasters , frequent hurricanes is taking high toll on working population in these industries .

High temperatures and increase in global warming causes crop failures in certain zones , leading to food inflation . Also worker productivity declines due to intense heat .

Climatic changes cause unpredictable droughts and floods which causes loss of life and property . This reduces production and economic growth . To avoid extreme climates people often emigrate causing loss of working population for a country . Also decline is species specially fish yeild leads to damage of other industries related to it .

Rahul Sunny answered 2 years ago
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