Term Paper: Economics Simply Relates to the Management

Pages: 2 (565 words)  ·  Style: MLA  ·  Bibliography Sources: 0  ·  Topic: Economics  ·  Buy This Paper

Economics simply relates to the management of the household. In an economy, however, there are many things which cannot be produced owing to scarce resources. This is the reason why out of the six social goals, economic stability is the most important.

Economic Stability is the promotion by the government of conditions that will contribute to a sustainable development or a balance in the fulfillment of human needs with the protection of the natural environment so that these needs can be met not only in the present, but in the indefinite future. It deals with economic development with minimal environmental degradation, or equitable development that is environmentally sound.

The goal for an economic stability gives emphasis on the need for environment management, control and ownership of the natural resources because these resources including everything deriving from land and water such as trees and its by-products, minerals and water resources such as fishes, pearls and corals, are the ones used by the people to satisfy their needs, as well as their wants. The government, in its efforts to promote economic stability, issues rules and regulations for the protection and preservation of the environment such as providing for limits on the poisonous chemicals released by industries which are harmful to the environment and imposing fines on those who exceed such limits. This way, the government can control the release of the chemicals from different industries in order to protect the environment without preventing the industries from producing their products. Another is the limited areas provided by the government where the natural resources can be utilized. People can only use the resources in such areas, therefore, abuse in the use of the natural resources is… [END OF PREVIEW]

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