I am currently using electricity, water, and paper resources. The objects around me likely required the use of resources such as metals, plastics, and energy to create. The economic benefits of using natural resources include employment opportunities, technological advancements, and economic growth, while some of the costs may include environmental degradation, pollution, and resource depletion.
Economically, to account for the environmental effects of using natural resources, especially fossil fuels driving human-caused climate change, policies like carbon pricing, emissions trading, and green taxes can be implemented to internalize the externalities of environmental damage. Non-economic solutions could include investing in renewable energy sources, promoting energy efficiency, implementing stricter regulations on emissions and waste management, and promoting sustainable practices in industries and among consumers.
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What natural resources are you using right now? What natural resources went into creating the objects around you? What economic benefits are you or others receiving from your use of natural resources? What might be some of the economic or environmental costs that stem from your use of natural resources?
What do you think should be done economically, if anything, to account for the environmental effects of using natural resources, especially fossil fuels that are driving human-caused climate change? Use information from the discussion introduction, articles, and your own ideas to inform your answer. If you feel that non-economic solutions should be used, propose those solutions.
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