Which of the following are the features of Environmental Economics as a field of study ? A. It has its…
The conventional disciplinary distinction assigns externalities/public goods(A), neoclassical welfare(B), and efficient pollution abatement(E) to environmental economics.…
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Which of the following are the features of Environmental Economics as a field of study ?
A. It has its roots in the theory of externalities and public goods.
B. It is based on neoclassical welfare theory
C. It envisions human economy as a sub-system of the biosphere
D. It engages with the law of transformations of matter and energy
E. It focuses on finding the most efficient ways to reducing environmental damages.
Answer and explanation
Correct answer C
The conventional disciplinary distinction assigns externalities/public goods(A), neoclassical welfare(B), and efficient pollution abatement(E) to environmental economics. Biosphere-subsystem framing(C) and thermodynamic/material-energy limits(D) distinguish ecological economics. The other groups mix those defining emphases and omit an environmental-economics core feature. These are disciplinary emphases rather than mutually exclusive subject matter. A, B and C only B, C and D only A, B and E only C, D and E only
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UGC NET Economics