Answer in Brief
State the meaning of environment.
The meaning of Environmental Economics is a different branch of economics that recognizes the value of both the environment and economic activity and makes choices based on those values. The goal is to balance the economic activity and the environmental impacts by taking into account all the costs and benefits. In short, Environmental Economics is an area of economics that studies the financial impact of environmental issues and policies. Environmental Economics involves theoretical and empirical studies of the economic effects of national or local environmental policies around the world.
Concept: Meaning of Environment
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