What is economic sustainability ?
Definition for economic : Economic means of relating to economic an example economic is considered a relation to trade, industry, and the creation of wealth. Economic sustainability refers to various strategies that make it possible to use available resources to the best of their capability. The idea is to promote the use of those resources in a way that is both efficient and responsible, and likely to provide long-term benefits. No economic system is sustainable unless it frequently maintains the ecosystems on which it depends upon. |
How does economic sustainability affect society ?
Would businesses benefit from changing to economical sustainable methods ?
At the moment companies are reluctant to change to economic sustainable methods. Resistance to change can often lead to a less than efficient use of available resources. A failure to track expenses and justify expenditures will also have an effect on the long-term stability of the company and limit the potential for sustainability. If we as a community do not start looking into the future our old habits will start to come back and we will not have sufficient supplies of our resources for our future. |