Explain the supply-demand reversal of environmental resources.
From the very inception of civilisation till the advent of industrialisation, the rate of extraction of the natural resources was far behind the rate of their regeneration. That is, in other words, the demand for resources falls short of the supply of the resources. The exploitation of nature by man was within the absorptive capacity of the environment. But, in today's scenario with population explosion and industrial revolution, the demand for resources for both production and distribution has risen at a much more rapid rate. However, the rate of regeneration of these resources is relatively much lower than the rate of their extraction. In other words, the rate of consumption (demand) of the natural resources exceeds that of their supply. This is beyond the absorptive capacity of the environment and has made the environmental crisis more probable. This reversal in the demand and supply relationship is referred to as the supply-demand reversal of the environmental resources.
Match the following:
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1. Prime Minister 3. Quota 4. Land Reforms 5. HYV Seeds 6. Subsidy |
A. Seeds that give large proportion of output C. Chairperson of the planning commission D. The money value of all the final goods and services produced within the economy in one year. E. Improvements in the field of agriculture to increase its productivity F. The monetary assistance given by government for production activities. |
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Welcome to the NCERT Solutions for Class 11 Economics - Indian Economic Development - Chapter . This page offers a step-by-step solution to the specific question from Excercise 1 , Question 14: Explain the supply-demand reversal of environmental resources.....
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