Topic Details (Notes format)

Environmental Economics and Sustainable Development

Subject: Economics

Book: Comprehensive Indian Economy

India’s rapid industrial growth strains natural resources and generates pollution. Environmental economics quantifies these externalities, urging corrective taxes or incentives. Policies like the National Action Plan on Climate Change promote solar energy, energy efficiency, and afforestation. However, balancing the needs of a developing population with ecological conservation remains challenging. Exam questions often connect resource management (forests, water) to livelihood security, especially for tribal or rural communities. Focus also on green financing, corporate social responsibility mandates, and the interplay of environmental laws with economic policies for sustainable growth.

Practice Questions

Which of the following is NOT a function of the World Trade Organization (WTO)?

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What is the significance of “Purchasing Power Parity” (PPP)?

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What is the concept of “invisible hand” associated with?

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What does the term "depreciation" refer to in the context of assets?

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Which of the following is NOT a component of Aggregate Demand?

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What is meant by “liquidity trap”?

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What does the “Phillips Curve” show?

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What is the meaning of “dumping” in international trade?

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What is the main aim of the “Startup India” initiative?

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Which organization is responsible for estimating India’s Gross Domestic Product (GDP)?

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