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Biobased economy, bioeconomy or biotechonomy is an economic activity involving the use of biotechnology and biomass in the production of goods, services, or energy. The terms are widely used by regional development agencies, national and international organizations, and biotechnology companies.
Ecosystem valuation is an economic process which assigns a value (either monetary, biophysical, or other) to an ecosystem and/or its ecosystem services.By quantifying, for example, the human welfare benefits of a forest to reduce flooding and erosion while sequestering carbon, providing habitat for endangered species, and absorbing harmful chemicals, such monetization ideally provides a tool ...
Estimating the economic value of biodiversity (and the costs of its continued loss) in agriculture and through the use of wild species for food is both challenging and controversial. Agricultural biodiversity (agrobiodiversity) refers to all the components of biodiversity that are relevant to food and agriculture, and that make up agricultural ...
In biology, the biological cost or metabolic price is a measure of the increased energy metabolism that is required to achieve a function. Drug resistance in microbiology, for instance, has a very high metabolic price, [1] especially for antibiotic resistance. [2]
Thermoeconomics is based on the proposition that the role of energy in biological evolution should be defined and understood not through the second law of thermodynamics but in terms of such economic criteria as productivity, efficiency, and especially the costs and benefits (or profitability) of the various mechanisms for capturing and utilizing available energy to build biomass and do work.
Environmental economics was a major influence on the theories of natural capitalism and environmental finance, which could be said to be two sub-branches of environmental economics concerned with resource conservation in production, and the value of biodiversity to humans, respectively.
Ecological economists have questioned fundamental mainstream economic approaches such as cost-benefit analysis, and the separability of economic values from scientific research, contending that economics is unavoidably normative, i.e. prescriptive, rather than positive or descriptive. [7]
Shows a firm's Economic Costs in the "Short Run" - which, as defined, contains at least 1 "Fixed Cost" that cannot be changed or done away with even if the firm goes out of business (stops producing) Variable cost: Variable costs are the costs paid to the variable input. Inputs include labor, capital, materials, power and land and buildings.