Question

In: Economics

What is the difference between renewable and nonrenewable energy? About what percent of the world’s energy...

What is the difference between renewable and nonrenewable energy?

About what percent of the world’s energy comes from fossil fuels?

About what percent of the Canada’ energy comes from fossil fuels?

What is the maximum sustainable yield of a renewable resource?

How might the economic optimum yield level for a fishery be obtained?

Solutions

Expert Solution

1. Renewable energy

Renewable energy is energy formed from renewable resources. It can be used again and again as the energy is formed from the resources that cannot be get emptied on using. For example, solar energy , wind energy. So renewable energy is an energy that is produced from natural resources.

Non renewable energy

Non renewable energy is a energy formed from non renewable resources. Non renewable resources can never be replaced by natural resources. This resources can get finished. For example , non renewable energy is energy from non renewable resources like coal , petroleum , natural gas.

2. World's energy coming from fossil fuels is around 80%. It takes millions of years for the formation of fossil fuels. This is formed through many natural processes. It can get finished based on the use.

3. Around 73.59 % of Canada's energy is from fossil fuels. Fossil fuels includes natural gas , crude oil and coal. 41.4% energy from crude oil , 9.2% energy from coal and 36.5% energy from natural gas.

4. Maximum sustainable yield (MSY) is the maximum yield that can be taken from a natural resource under different kinds of environmental conditions . For example , fish. So we need to get a maximum annual yield from fish resource over a particular time period , for that we must keep the fish resource at a particular level for attaining higher growth.

5. Optimum yield helps in achieving the highest yield form the renewable resources for long time. The changes between the total cost and total revenue can be maximized by optimum yield. For example it will help in identifying the fish reserve required to maintain an optimum level of fish production as well as it helps in understanding the yielding methods .


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