Correction for environmental damages involves opportunity costs—explain.
Correction for environmental damages involves opportunity costs because resources allocated for environmental protection cannot be used for alternative productive purposes. When society undertakes measures to rectify environmental damage, it must sacrifice certain economic benefits and developmental opportunities.
For example, reducing industrial pollution may require limiting industrial production or adopting expensive cleaner technologies. Similarly, afforestation programmes utilise land that could otherwise serve agricultural or industrial purposes. The opportunity costs of negative environmental impacts are high because the environment has limited absorptive capacity to handle pollution and waste.
Therefore, correcting environmental damages requires making difficult choices. The present generation must balance development with conservation of natural assets and preservation of the regenerative capacity of ecological systems, ensuring that we avoid imposing added costs or risks on future generations.
Explanation
This question tests understanding of the trade-off between environmental protection and economic development. The textbook context explicitly states that 'the opportunity costs of negative environmental impacts are high.' Students should explain that correcting environmental damage means diverting resources from other uses, which constitutes the opportunity cost. The answer should also reference concepts like absorptive capacity, conservation of natural assets, and intergenerational equity from the provided context.