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Question
According to Pearce, Markandya and Barbier (1989), what should be the focus regarding natural capital assets?
Options
Natural capital assets should be exploited for maximum economic benefit
Natural capital assets should be completely preserved without any use
Natural capital assets are irrelevant to sustainable development
Natural capital assets should not decline through time
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Solution
Pearce, Markandya and Barbier (1989) proposed that an alternative approach to sustainable development should focus on natural capital assets and ensure they do not decline through time. This perspective emphasizes maintaining the stock of natural resources and environmental capital as essential for long-term sustainability, preventing the erosion of environmental assets that support economic and human well-being.
