Economics

Basics

350. It is the ratio between a given benefit or result and the natural resource use required for it. It is closely linked with the concept of Circular Economy (which implies reusing wastes back into new products and uses, instead of wasting such potential resources). The term is known as,

-- Resource Efficiency

351. Oxfam, in its report titled ‘Reward Work, Not Wealth, noted that the richest 1% in India cornered 73% of the wealth generated in 2017, while bottom 67 crore Indians saw their wealth rise by just 1%. This generates greater inequality. Inequality is calculated from

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