Lecture Economics of social issues - Chapter 4: Pollution problems: Must we foul our own nests?
Lecture Economics of social issues - Chapter 4: Pollution problems: Must we foul our own nests?
The environment provides services that are used by both household units and production units of the economy. In the processes of consumption and production, wastes are generated. If the ecological system cannot recycle these wastes as fast as they are generated, wastes accumulate. This constitutes pollution.