Biodiversity and Ecosystem Services Economics.

Biodiversity refers to the variety of life in an ecosystem, including different species, genetics, and habitats. Ecosystem services are the benefits that humans gain from these ecosystems, such as clean air, water filtration, pollination of crops, and climate regulation. Environmental economics studies how to value these benefits and integrate them into economic decision-making. By understanding the economic value of biodiversity and ecosystem services, we can better justify conservation efforts and sustainable practices, ensuring that natural resources are preserved for future generations while supporting human well-being.