Which of the following is the correct reason of high opportunity cost of negative environmental impact? |
Health cost linked with degraded environment Global warming on the planet Expenditure incurred on technology and research All of the above |
All of the above |
The correct answer is Option 4: All of the above. High opportunity cost of negative environmental impact refers to the cost we have to pay due to harm caused to the environment. All of the given factors contribute to the high opportunity cost of negative environmental impact: Health cost linked with degraded environment: Polluted air, contaminated water, and other environmental degradation can lead to significant health problems, requiring expensive medical treatment and potentially reducing productivity. Global warming on the planet: The effects of climate change, such as rising sea levels, extreme weather events, and agricultural disruptions, can have far-reaching economic consequences and require substantial investments in adaptation and mitigation measures. Expenditure incurred on technology and research: Addressing environmental problems often involves developing and implementing new technologies and conducting research. This can be expensive and divert resources from other economic priorities. |