Question

Write short notes.

1. Environmental deterioration

2. Hoarding

Answer 1

1. Environmental deterioration is the damage caused to the environment due to the production and consumption activities of human-beings along with over usage of natural resources. Environmental deterioration is caused by deforestation, air, land and water pollution through emission and discharge of industrial and human waste and mining. It harms our surroundings and thus, our health as well.

2. Hoarding is the act of accumulating or holding back goods to create an artificial scarcity in the market. This is mainly done in order to enjoy the benefits of increased prices caused by the scarcity. It is an unethical and immoral activity, as it deprives consumers of goods at fair prices. Hoarding also leads to monopoly in a market which in turn deters fair business practices and exploits customers.