Economic Sustainability
Economic sustainability refers to the ability of an economy to support a defined level of economic production indefinitely. This involves using resources efficiently, minimizing waste, and ensuring that economic activities do not lead to negative impacts on the environment or society.
Key Concepts
- Resource Use: Efficient use of resources to meet current needs without compromising the ability of future generations to meet their own needs.
- Environmental Impact: Minimizing negative impacts on the environment, such as pollution, deforestation, and depletion of natural resources.
- Social Equity: Ensuring that economic activities benefit all members of society and do not disproportionately harm any particular group.
- Long-Term Planning: Implementing economic policies and practices that consider long-term consequences and strive for stability and growth over time.
Study Guide
1. What is economic sustainability?
Economic sustainability refers to the ability of an economy to support a defined level of economic production indefinitely through efficient resource use and responsible environmental and social practices.
2. Why is economic sustainability important?
Economic sustainability is important because it ensures that future generations will have the resources and environment needed to maintain a high quality of life.
3. What are the key factors in economic sustainability?
The key factors in economic sustainability include resource use, environmental impact, social equity, and long-term planning.
4. How can economic sustainability be achieved?
Economic sustainability can be achieved through the implementation of policies and practices that prioritize efficient resource use, environmental protection, social equity, and long-term planning.
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