Question

1. Describe the economic values (could include direct and/or indirect use values) that New Orleans city officials may have taken into account when they decided to turn swamp land into the Agriculture Street Landfill in 1909. 2. Evaluate the externalities (hidden costs or benefits) that arose when New Orleans city officials decided to close a dumping ground and develop a residential neighborhood on the site. a. Why do you think city officials moved forward with the project? b. Be sure to include quotes that reflect the experiences of Gordon Plaza residents. 3. Give a brief analysis of how the plight that Gordon Plaza residents face relates to the bigger picture of conservation biology and biodiversity. a. Include in your analysis your thoughts on the investigations and actions taken by the Environmental Protection Agency to address Gordon Plaza.

Answer 1

1. ECONOMIC VALUES :-

Economic value is the measure of the benefit either direct or indirect provided by a good or service to an economic agent. It is generally measured relative to units of currency.

Economic values considered in the conversion of swamp land into agriculture land : -

Land is one of the important resource. New Orelands City considered some economic values while converting the swamp lands into agriculture lands. Generally swamp is the forested wetland. it was a transition zone for both land & water which plays an important role in creating the environment. As there is no use of the forest for the people. New Orlenads city was faced some disaster in 1909. due to that disaster, it faced so many problems for food. Due to that scarcity, it was better to convert swamp lands into agriculture land which is useful for growing crops for the people.

2. Externalities : -

Externalities means the consequences of an industrial or commercial activity which affects other parties without this being reflected in the market prices, such as the pollination of surrounding crops by bees kept for honey.

Externalities in conversion of dumping grounds into Residential Neighbourhood : -

It was good to convert the dumping grounds into residential areas. But it involove alot of costs for cleaning the area as it was filled with the wastes. it was a huge cost for the governement to clear that area & develop the residential area. on conversion of the residential area, it may generate revenue to the government. But it will take some time to recover the cost incurred by the government. But one of the important thing is there will be a development in the revenue & society in all aspects.

3. Conservation Biology & Biodiversity : -

Conversion biology is the manangement of the nature & of earth's biodiversity with the aim of protecting species, their habitats and ecosystems from excessive rates of extinction and the erosion of biotic interactions. It is an interdisciplinary subject drawing on natural & social sciences and the practice of natural resource management.

Conservation Biology do not prevent the potential destruction of their natural habitats. Species raised in captivity are less likely to be successfully reintroduced into the wild (loss of autonomous survival).