Question

Brief the linkage between economy and environment

Answer 1

The linkage between Economy and Environment:

1. Man’s life is interconnected with various other living and non-living things.
2. Life also depends on social, political, ethical, philosophical, and other aspects of the economic system.
3. In fact, the life of human beings is shaped by their living environment.
4. The relationship between the economy and the environment is generally explained in the form of a “Material Balance Model”.
5. The model considers the total economic process as a physically balanced flow between inputs and outputs.
6. Inputs are bestowed with the physical property of energy that is received from the environment.
7. The interdependence of economics and the environment.