Sustainability needs good economics
1. Key economics ideas • Economics - how we make choices over scarce items • People respond to incentives in making choices • Scarce items have alternative uses • If we choose one use of a resource we forgo the benefit from other uses of the resource. • Benefit foregone = Opportunity Cost. 2. Water in New Zealand • Large amounts of water but not always in the right place at the right time in the right amount • Water quality is degraded in many urban waterways, lowland rivers and streams, lakes. • Public concern about water availability and quality • New policies and tools needed.
TypeConference Contribution - Unpublished (Conference Oral Presentation)
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