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Consider the following statements regarding ‘Gross Ecosystem Product’:
It is the total value of goods and services that ecosystem provides for human well-being in a region annually.
  • It is measured in terms of intangible beneficial values rather than monetary or economic value.
  • Sikkim became the first state in India to initiate valuation of its natural resources in the form of ‘Gross Ecosystem Product’.
    Which of the statements given above is/are correct?
    • a)
      1 only
    • b)
      1 and 2 only
    • c)
      2 only
    • d)
      2 and 3 only
    Correct answer is option 'A'. Can you explain this answer?
    Most Upvoted Answer
    Consider the following statements regarding ‘Gross Ecosystem Product’...
    Option a is the correct answer.
    • Statement 1 is correct: Gross Ecosystem/Environment Product’ is the total value of final ecosystem of goods and services supplied for human well-being in a region annually. Ecosystems that can be measured include natural ecosystems such as forests, grassland, wetland, desert, freshwater and ocean, and artificial systems that are based on natural processes like farmland, pastures, aquaculture farms and urban green land, etc.
    • Statement 2 is incorrect: Gross Ecosystem/Environment Product’ can be measured in in terms of biophysical value and monetary value. Gross Ecosystem Product (GEP) aims to measure the total economic value of all ecosystem products and services.
    • Statement 3 is incorrect: Recently, Uttarakhand government (not Sikkim) may introduce a well-defined concept of ecosystem services Gross Environment Product’ (GEP) its objectives. Uttarakhand holds a distinct position historically on social awareness towards the importance of ecosystems. Therefore, Uttarakhand government has announced that it will initiate valuation of its natural resources in the form of ‘Gross Environment Product’ (GEP), along the lines of Gross Domestic Product (GDP).
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    Consider the following statements regarding ‘Gross Ecosystem Product’: It is the total value of goods and services that ecosystem provides for human well-being in a region annually. It is measured in terms of intangible beneficial values rather than monetary or economic value. Sikkim became the first state in India to initiate valuation of its natural resources in the form of ‘Gross Ecosystem Product’. Which of the statements given above is/are correct?a)1 onlyb)1 and 2 onlyc)2 onlyd)2 and 3 onlyCorrect answer is option 'A'. Can you explain this answer?
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    Consider the following statements regarding ‘Gross Ecosystem Product’: It is the total value of goods and services that ecosystem provides for human well-being in a region annually. It is measured in terms of intangible beneficial values rather than monetary or economic value. Sikkim became the first state in India to initiate valuation of its natural resources in the form of ‘Gross Ecosystem Product’. Which of the statements given above is/are correct?a)1 onlyb)1 and 2 onlyc)2 onlyd)2 and 3 onlyCorrect answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding ‘Gross Ecosystem Product’: It is the total value of goods and services that ecosystem provides for human well-being in a region annually. It is measured in terms of intangible beneficial values rather than monetary or economic value. Sikkim became the first state in India to initiate valuation of its natural resources in the form of ‘Gross Ecosystem Product’. Which of the statements given above is/are correct?a)1 onlyb)1 and 2 onlyc)2 onlyd)2 and 3 onlyCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding ‘Gross Ecosystem Product’: It is the total value of goods and services that ecosystem provides for human well-being in a region annually. It is measured in terms of intangible beneficial values rather than monetary or economic value. Sikkim became the first state in India to initiate valuation of its natural resources in the form of ‘Gross Ecosystem Product’. Which of the statements given above is/are correct?a)1 onlyb)1 and 2 onlyc)2 onlyd)2 and 3 onlyCorrect answer is option 'A'. Can you explain this answer?.
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