Volume 4Issue IV Year 2025
A third-year B.A., LL.B. (Hons.) student at the NALSAR University of Law, Hyderabad and an author of two books
manavpamnani2004@gmail.com
A third-year B.A., LL.B. (Hons.) student at the NALSAR University of Law, Hyderabad and an author of two books
manavpamnani2004@gmail.com
Environment- Population- Quality- Research- Technology
1. [1] Economics as a discipline is a social science which deals with consumption, production and distribution of goods and services. It can be broadly divided into two main branches - Macroeconomics and Microeconomics which in turn can be divided into several sub-components. The list of these divisions is not exhaustive and this indicates the broad purview of the subject matter of economics. In fact, economics does not exist in isolation. It is greatly linked to other disciplines like mathematics, law, sociology and so on. This interplay between different branches of knowledge in turn has an enriching effect on the matters of study within economics.�This is evident from the fact that economics deals with a wide range of matters, right from the individual level to that of the economy as a whole, exploring the concepts in detail and offering a wide perspective.
2. [2] Population can be defined as the total number of people living within a certain geographical area at a given point of time whereas the environment is the sum total of the surroundings within which we live. It consists of the hydrosphere, atmosphere as well as the biosphere. The presence of the biosphere indicates that humans and the environment are intrinsically linked together. They exhibit a symbiotic relationship which ideally requires mutual cooperation but the reality is very different.
3. [3] Deterioration in the quality of the environment refers to the lowering of environmental quality through depletion and contamination of resources such as air, water and soil. It also implies the destruction of habitat, extinction of wildlife and pollution. Natural resources are materials obtained from the earth that are used to meet people�s needs, thus enabling them to live. Examples of these include air, water, sunlight and so on.
4. [4] These include global warming, acid rain, various kinds of pollution, climate change and so on. Although these problems are expressed separately, they are intrinsically linked to each other and overlap in terms of the causes as well as the effects.
5. [5] Greenhouse gases are those which contribute to the warming of the environment and are thus harmful. These include carbon dioxide, carbon monoxide and so on. Urbanisation refers to the development of urban cities which lures people living in the rural areas to shift. Commercialisation refers to this development undertaken mainly for commercial or profit-making motives. The Pressure-Population and Pressure-State Model examines the pressure exerted on the environment due to the increasing population and other activities and policies of the State.
6. [6] An economy encompasses all the activities related to the production, distribution and trade of goods and services by an entity, mainly a country. The Indian economy is one such economy.
7. [7] The Gross Domestic Product is the monetary value of the final goods and services that are bought by the final user and produced within the geographical boundaries of a country within a given period of time.
8. [8] National Income refers to the total monetary value of goods and services that are produced by a nation during a given period of time.
9. [9] A Chinese scientist named Hi JianKui recently introduced a method to alter DNA and thus, customise the features of a new-born baby.�
10. [10] As a part of the United Nations, 2030 agenda, the Sustainable Development Goals are a set of 17 goals set to tackle various problems plaguing human society. There are meant to maintain a sustainable world for the future generations. Out of these 17 goals, there are a few which relate to the environment such as goal 6 which deals with clean water and sanitation.
11. [11] The Covid-19 pandemic started in 2019 from the Wuhan province in China and was caused due to Coronavirus It resulted in a worldwide lockdown and to take safety and precautionary measures, people started using such devices in order to safeguard themselves from the impending threat of getting affected.
12. [12] A high Air Quality Index indicates that the environmental quality is low. Thus, it is inversely proportional.
13. [13] Artificial Intelligence refers to the simulation of human intelligence by machines, especially computer systems.
14. [14] Return on Investment is a ratio between net income and investment. It indicates the profitability of a particular investment. A higher ratio indicates higher profitability and vice versa.
15. [15] Specialisation refers to the phenomenon wherein people focus on the mastery of only one subject-matter or matter of study. Research and development refers to the tools used to undertake research in several forms which subsequently result in the development of the subject-matter of research.
16. [16] Demand and supply are two economic forces which work in tandem with each other. Demand refers to the total quantity of a commodity that is demanded by the consumers during a particular period of time whereas supply refers to the total quantity of a commodity that producers are willing and able to offer for sale at various possible prices during a given period of time.
17. [17] Game theory as a concept basically means the strategies that a firm adopts in response to the strategies introduced by the rival firms.
18. [18] Oligopoly is basically a form of market characterised by a small number of suppliers, product differentiation, interdependence, price-making power and non-price competition. Monopoly is characterised by a single seller, selling a unique product in the market whereas monopolistic competition is characterised by several firms offering competing products or services that are similar but not perfect substitutes.
19. [19] Short-term costs refer to the fixed and the variable costs incurred by the firm on its fixed and variable factors of production during a short period of time whereas long-term costs refer to the costs incurred by the firm on only variable costs during a comparatively longer period of time.
20. [20] Budget of an individual refers to the total amount of money that he is ready to allocate for the purchase of a particular quantity of a commodity taking into consideration his preferences and means.
21. [21] Circular Flow of Income refers to a circular model showing the unending flow of goods, services, income and expenditure in an economy.
22. [22] The Monetary and Fiscal Policy of the Government are the policies which deal with income, expenditure, taxation and other aspects which affect the lives of citizens.
23. [23] The short title refers to the shortened name of the legislation whereas the preamble in the statement of objectives that the legislation intends to achieve.
24. [24] Bilateral treaties are those entered into between two nations whereas multilateral treaties and conventions are those entered into by a few nations but signed or affirmed by many others. Multilateral treaties have a larger scope because they affect several countries at large.�
25.
1. [1] Economics as a discipline is a social science which deals with consumption, production and distribution of goods and services. It can be broadly divided into two main branches - Macroeconomics and Microeconomics which in turn can be divided into several sub-components. The list of these divisions is not exhaustive and this indicates the broad purview of the subject matter of economics. In fact, economics does not exist in isolation. It is greatly linked to other disciplines like mathematics, law, sociology and so on. This interplay between different branches of knowledge in turn has an enriching effect on the matters of study within economics.�This is evident from the fact that economics deals with a wide range of matters, right from the individual level to that of the economy as a whole, exploring the concepts in detail and offering a wide perspective.
2. [2] Population can be defined as the total number of people living within a certain geographical area at a given point of time whereas the environment is the sum total of the surroundings within which we live. It consists of the hydrosphere, atmosphere as well as the biosphere. The presence of the biosphere indicates that humans and the environment are intrinsically linked together. They exhibit a symbiotic relationship which ideally requires mutual cooperation but the reality is very different.
3. [3] Deterioration in the quality of the environment refers to the lowering of environmental quality through depletion and contamination of resources such as air, water and soil. It also implies the destruction of habitat, extinction of wildlife and pollution. Natural resources are materials obtained from the earth that are used to meet people�s needs, thus enabling them to live. Examples of these include air, water, sunlight and so on.
4. [4] These include global warming, acid rain, various kinds of pollution, climate change and so on. Although these problems are expressed separately, they are intrinsically linked to each other and overlap in terms of the causes as well as the effects.
5. [5] Greenhouse gases are those which contribute to the warming of the environment and are thus harmful. These include carbon dioxide, carbon monoxide and so on. Urbanisation refers to the development of urban cities which lures people living in the rural areas to shift. Commercialisation refers to this development undertaken mainly for commercial or profit-making motives. The Pressure-Population and Pressure-State Model examines the pressure exerted on the environment due to the increasing population and other activities and policies of the State.
6. [6] An economy encompasses all the activities related to the production, distribution and trade of goods and services by an entity, mainly a country. The Indian economy is one such economy.
7. [7] The Gross Domestic Product is the monetary value of the final goods and services that are bought by the final user and produced within the geographical boundaries of a country within a given period of time.
8. [8] National Income refers to the total monetary value of goods and services that are produced by a nation during a given period of time.
9. [9] A Chinese scientist named Hi JianKui recently introduced a method to alter DNA and thus, customise the features of a new-born baby.�
10. [10] As a part of the United Nations, 2030 agenda, the Sustainable Development Goals are a set of 17 goals set to tackle various problems plaguing human society. There are meant to maintain a sustainable world for the future generations. Out of these 17 goals, there are a few which relate to the environment such as goal 6 which deals with clean water and sanitation.
11. [11] The Covid-19 pandemic started in 2019 from the Wuhan province in China and was caused due to Coronavirus It resulted in a worldwide lockdown and to take safety and precautionary measures, people started using such devices in order to safeguard themselves from the impending threat of getting affected.
12. [12] A high Air Quality Index indicates that the environmental quality is low. Thus, it is inversely proportional.
13. [13] Artificial Intelligence refers to the simulation of human intelligence by machines, especially computer systems.
14. [14] Return on Investment is a ratio between net income and investment. It indicates the profitability of a particular investment. A higher ratio indicates higher profitability and vice versa.
15. [15] Specialisation refers to the phenomenon wherein people focus on the mastery of only one subject-matter or matter of study. Research and development refers to the tools used to undertake research in several forms which subsequently result in the development of the subject-matter of research.
16. [16] Demand and supply are two economic forces which work in tandem with each other. Demand refers to the total quantity of a commodity that is demanded by the consumers during a particular period of time whereas supply refers to the total quantity of a commodity that producers are willing and able to offer for sale at various possible prices during a given period of time.
17. [17] Game theory as a concept basically means the strategies that a firm adopts in response to the strategies introduced by the rival firms.
18. [18] Oligopoly is basically a form of market characterised by a small number of suppliers, product differentiation, interdependence, price-making power and non-price competition. Monopoly is characterised by a single seller, selling a unique product in the market whereas monopolistic competition is characterised by several firms offering competing products or services that are similar but not perfect substitutes.
19. [19] Short-term costs refer to the fixed and the variable costs incurred by the firm on its fixed and variable factors of production during a short period of time whereas long-term costs refer to the costs incurred by the firm on only variable costs during a comparatively longer period of time.
20. [20] Budget of an individual refers to the total amount of money that he is ready to allocate for the purchase of a particular quantity of a commodity taking into consideration his preferences and means.
21. [21] Circular Flow of Income refers to a circular model showing the unending flow of goods, services, income and expenditure in an economy.
22. [22] The Monetary and Fiscal Policy of the Government are the policies which deal with income, expenditure, taxation and other aspects which affect the lives of citizens.
23. [23] The short title refers to the shortened name of the legislation whereas the preamble in the statement of objectives that the legislation intends to achieve.
24. [24] Bilateral treaties are those entered into between two nations whereas multilateral treaties and conventions are those entered into by a few nations but signed or affirmed by many others. Multilateral treaties have a larger scope because they affect several countries at large.�
25.