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The basic conceptualization of nature from the perspective of environmental economics is that manufactured capital can be used as a substitute for natural capital. [13] The definition of PES provided by environmental economics is the most popular: a voluntary transaction between a service buyer and service seller that takes place on the condition that either a specific ecosystem service is ...
Consumer–resource interactions are the core motif of ecological food chains or food webs, [1] and are an umbrella term for a variety of more specialized types of biological species interactions including prey-predator (see predation), host-parasite (see parasitism), plant-herbivore and victim-exploiter systems.
Ecosystem services are the various benefits that humans derive from healthy ecosystems. These ecosystems, when functioning well, offer such things as provision of food, natural pollination of crops, clean air and water, decomposition of wastes, or flood control. Ecosystem services are grouped into four broad categories of services.
A consumer in a food chain is a living creature that eats organisms from a different population. A consumer is a heterotroph and a producer is an autotroph . Like sea angels, they take in organic moles by consuming other organisms, so they are commonly called consumers.
The economic value of natural capital and ecosystem services is accepted by mainstream environmental economics, but is emphasized as especially important in ecological economics. Ecological economists may begin by estimating how to maintain a stable environment before assessing the cost in dollar terms.
Ecological goods and services (EG&S) are the economical benefits (goods and services) arising from the ecological functions of ecosystems. Such benefits accrue to all living organisms, including animals and plants, rather than to humans alone. However, there is a growing recognition of the importance to society that ecological goods and ...
Biodiversity plays a major role in the productivity and functioning of ecosystems, affects their ability to provide ecosystem services. [2] For example, biodiversity is a source of food, medication, and materials used in industry. Recreation and tourism are also examples of human economic activities that rely on these benefits.
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 ...