oa Agriprobe - Environmental and resource economics in agriculture

Volume 3, Issue 3
  • ISSN : 1810-9799



Extracted from text ... AgriPROBE September 2006 Environmental and resource economics in agriculture Natural resources provide the basis for economic activity and social well-being. Such resources are becoming scarce and more valuable to individuals and society. Changes in the state of our natural resource base directly affect the agricultural sector since the sector relies on these assets to function properly. Most natural resources have open access to the public and are defined as 'public goods'. These resources are subject to what economists call 'externalities', which means that a transaction or activity could have a positive or negative effect on people not directly involved in the ..

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