Question

Briefly explain the relationship between GDP growth and the quality of the environment.

Answer 1

GDP Growth:

1. Ross domestic product is the money value of final goods and services produced in the domestic territory of a country during an accounting year.
2. GDP can be determined in 3 ways in all of which should in principle give the same result.
3. The real Economic GDP growth rate expressed as a percentage that shows the rate of change in a countries GDP.
4. The Four supply Factors are natural resources capital goods, human resources, and technology.
5. GDP is a monetary measure of the market value of all the final goods and services.
6. The contribution of nature to GDP as well as depletion of natural resources are not accounted for in the present system of National Income.

Quality of Environment:

1. Environmental quality is a set of properties and characteristics of the environment either generalized or local as they impinge on human beings and other organisms.
2. It is a measure of the condition of an environment relative to one or more species of any human need or purpose.
3. Environmental quality has been continuously declining due to the capitalistic mode of functioning.
4. The environment is a pure public good that can be consumed simultaneously by everyone and from which no one can be excluded.
5. A pure public good is one for which consumption is non-revival and from which it is impossible to exclude a consumer.
6. The environment directly affects health status and plays a major role in the quality of life lived and good health disparities.