Question

Is the environment an economic asset? is the environment a social asset? explain in 150 words

Answer 1

The environment is an economic and social asset. The environment is an economic asset in the sense that economic activities can be conducted and the benefits of the economic activities can be realized only when there is a favorable environment. A favorable and hospitable environment is necessary for human inhibition and living a healthy life. Environmental degradation has huge economic and social costs and economic activities would be increasingly costlier and life would be more difficult for all. The environment provides materials such as fresh air, water, mineral resources, etc. which are used in economic activities and are essential for the smooth functioning of the economy. A favorable environment is an essential condition in which human beings can live, conduct economic activities, produce output, consume those and maintain a high standard of life. Environmental degradation makes it unviable for economic activities and even the sustainability if human lives is greatly challenged in such a scenario.