Relationship: Environmental Sustainability and Economic Growth (Part 2)
By HSC Economics Made Easy on youtube.com
More about this content:
In this video, you'll learn about the relationship between economic growth and environmental sustainability. The Production Possibility Frontier (PPF) model is used to show the opportunity cost and long-term consequences of allocating resources between two economic outcomes. Additionally, the concept of aggregate supply is discussed, showing how neglect of the natural environment can affect economic activity. Lastly, the concept of market failures is discussed, with pollution being a form of market failure due to its negative externalities.
Explore below learning paths to discover the previous and next steps for understanding this concept.
Introduction to sustainability
Macroeconomics For Better Understanding The world
The transition to a green economy and its challenges