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ECONOMY PERSPECTIVE - Coggle Diagram
ECONOMY PERSPECTIVE
What is economy perspective?
The process for the real per capital income of the country increases over the long time of period.
Is an approach to economic planning that attempts to foster economic growth while preserving the quality of the environment for future generation.
The distribution of the income does not become more unequal (Meire, 1976)
-ED implies not only more output but also different kinds of output than were previously produced as well as changes in technical and intuitional arrangements by which is produced and distributed (Herrick & Kindle Berger, 1983)
-Invention and diffusion of new technology
Sustainable economic development
Development to be a vector of desirable social objectives(Pearce 1990
Increases in real income per capital
Improvements in health and nutritional status
Educational achievement
Access to resources
A fairer distribution of income
Increases in basic freedom
Economy and
Environment Nexus
Interdependency between the economic system and the environment system.
The environment provides human with multifunction's and services.
Inputs for economic activities
Life supports systems
Amenities/ recreational services
Waste sinks (residuals)
The economic system & the environment.
Nature
Households
Factor market
Firms
Outputs
What is economy
sustainability?
Strategies for employing existing resources optimally so that a responsible & beneficial balance can be achieved over the longer term.
Economic sustainability involves using the assorted assets of the company efficiently to allow it to continue functioning profitability over time.
To identify various strategies that make it possible to use available resources to their best advantage.
For business operation, it calls for using resources so that the business continues to function over a number of years, while consistently returning a profit.
To promote the use of those resources in a way that is both efficient and responsible and likely to provide long-tern benefits.
The measure economic sustainability is presented in monetary terms.
Identifying what impact changes in one area of the operation will have on subsequent phases of the production process.
The goal is to establish profitability over the long term.