ENVR2011 Ecological Economics

Task 5.1: Reflection 2pts

How important is consumer behaviour in managing resources?Reflect on your own consumer choices, and provide a response of your thoughts to the question—are you living within your means?

Consumer Behaviour or Buyer Behaviour is known as the behaviour that is displayed by a particular individual when they are about to buy, consuming anything (Aschemann-Witzel et al. (2017). Being a customer, Yes We all including me go through simple steps like researching, reading reviews, checking the products ingredients before buying anything. The understanding and the interpretations of the consumer helps in making a image of the product. As the main purpose of any business is to cater to the needs of the customer, so their behaviour and interest towards a particular product helps them to grow a business and manage its resources.

Task 5.2: Reference 2pts

Managing our resources sustainably.Cite two references from the Journal of Ecological Economics that are relevant to the managing the Earth’s resources; provide a keyword description of what the articles are focused on.

Sustainable management of the resources is very important and crucial to save our environment; it is the process which encourages the utilization of the resources that meets to both basic human needs as well as preserving for the future generations as well (Wiesner, Chadee & Best (2018).. There are many natural resources like air, climate, energy, water, biodiversity and Ecosystems. By several means these are getting effected and creating a negative impact on the earth. Therefore, the proper sustainable means is required, like less using of the plastic bags, harm chemicals, enhancing healthy wildlife and protecting the forests or ecosystem (Costanza (2020)..

Task 5.2: Digital curation 4pts

Why do we need to control natural resource-based industries? Using imagery, and a written caption, provide a response to the question in six sentences or less.

Hints: Strong answers will refer to the picture/s, explore the nature of the economic problem, be thoughtful and engaging, and be well structured.

The control of natural resources is very important as the world’s 20% of the population consumes 80% of the resources (Puller & Smith,(2017).. It is the responsibility of the industry to look into this major factor and take corporate decisions. The major impact on the environment comes from the industry’s wastes like water use, chemical emissions, hazardous wastes generation and land use. The resources needs to be controlled as to leads to:-

Depletion of the natural resources

Increase the Global warming, climate changes.

The industrial pollution leads to air, water and soil pollution.

Even the industries resources are the reason behind the diseases like silicosis, tuberculosis, skin problem and others. The earliest action must be taken to stop these; the industries must stop the use of too much hazardous elements or emissions, or oil and gas on the lands or the water. They must immediately reduce the methane standards, which are also releases Carbon dioxide; the wastewater disposal is also increasing the water contaminations (Andersen, Marín,& Simensen 2018).

References

Andersen, A. D., Marín, A., & Simensen, E. O. (2018). Innovation in natural resource-based industries: a pathway to development? Introduction to special issue.

Aschemann-Witzel, J., Jensen, J. H., Jensen, M. H., & Kulikovskaja, V. (2017). Consumer behaviour towards price-reduced suboptimal foods in the supermarket and the relation to food waste in households. Appetite, 116, 246-258.

Costanza, R. (2020). Ecological economics in 2049: Getting beyond the argument culture to the world we all want. Ecological Economics, 168, 106484.

Puller, A., & Smith, T. (2017). A critical and realist approach to ecological economics. In Routledge Handbook of Ecological Economics (pp. 17-26). Routledge.

Wiesner, R., Chadee, D., & Best, P. (2018). Managing change toward environmental sustainability: A conceptual model in small and medium enterprises. Organization & Environment, 31(2), 152-177.

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