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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.
Evolutionary economics is a school of economic thought that is inspired by evolutionary biology.Although not defined by a strict set of principles and uniting various approaches, it treats economic development as a process rather than an equilibrium and emphasizes change (qualitative, organisational, and structural), innovation, complex interdependencies, self-evolving systems, and limited ...
Biological economics is an interdisciplinary field in which the interaction of human biology and economics is studied. The journal Economics and Human Biology covers the field and has an impact factor of 2.722. [1]
[4] [5] Despite these benefits, economic activities often result in harm to biodiversity, such as through deforestation. [1] The majority of species have yet to be evaluated for their current or future economic importance. [6] Raw materials, pharmaceuticals and drug production all directly and indirectly depend upon biodiversity. [6]
In biology, strategies are genetically inherited traits that control an individual's action, analogous with computer programs. The success of a strategy is determined by how good the strategy is in the presence of competing strategies (including itself), and of the frequency with which those strategies are used. [9]
Development economics is a branch of economics that deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether ...
The first condition is sometimes called a strict Nash equilibrium. [9] The second is sometimes called "Maynard Smith's second condition". The second condition means that although strategy T is neutral with respect to the payoff against strategy S, the population of players who continue to play strategy S has an advantage when playing against T.
Daphne Greenwood and Richard Holt distinguish economic development from economic growth on the basis that economic development is a "broadly based and sustainable increase in the overall standard of living for individuals within a community", and measures of growth such as per capita income do not necessarily correlate with improvements in ...