Do you agree with a view that environmental degradation is an avoidable opportunity cost of development? Write your observations.
Dear student,
The opportunity cost refers to the cost that is forgone when we make a choice or decision.
When we extract natural resources at a fast face we degrade the environment as these resources take thousands or millions of years to form. This situation leads to environmental crisis, which give birth to many water borne and other diseases. These crisis necessitates the need of higher health expenditure and investment. The cost involved in searching alternative resources constitute opportunity cost of development.
Regards
The opportunity cost refers to the cost that is forgone when we make a choice or decision.
When we extract natural resources at a fast face we degrade the environment as these resources take thousands or millions of years to form. This situation leads to environmental crisis, which give birth to many water borne and other diseases. These crisis necessitates the need of higher health expenditure and investment. The cost involved in searching alternative resources constitute opportunity cost of development.
Regards