Economics is the study of the allocation of scarce resources. Note that the theories of economics can be applied to any scarce resource, not just traditional commodities. Economics is not simply about profits or money. It applies anywhere constraints are faced, so that choices must be made.
Economists study how incentives affect peoples behavior. Environmental and natural resource economics is the application of the principles of economics to the study of how environmental and natural resources are developed and managed. Natural resources resources provided by nature that can be divided into increasingly smaller units and allocated at the margin. Environmental resources resources provided by nature that are indivisible. Natural resources serve as inputs to the economic system. Environmental resources are affected by the system (e.g. pollution).
Online Journals also aims to reach a large number of readers worldwide with original and current research work completed on the vital issues of the above important disciplines. The journals permit all readers to read, view, download and print the full-text of all published articles without any subscription or restrictions.
Last date updated on July, 2014