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Explain in brief the concept of socio-economical aspect of sustainable development.
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Social Aspect of Sustainable Development:

  • Social sustainability means, our future generations should have the same or greater access to social resources as the current generation have. Also there should also be equal access to social resources within the current generation.
  • It comprises human, labor rights, and corporate governance.
  • Social resources include community, diversity, employee relations, human rights, product safety, reporting, and governance structure.
  • Sustainable Human Development promotes the capabilities of present generation without compromising capabilities of future generations.
  • It is important to note that environment and natural resources should be used as means of achieving better standards of living just as big income means increased social expenditure and, in the end. well ­being. 
  • The ideal sustainable life style is not to end consumption but understanding the minimalistic requirement of it. 
  • Socially sustainable communities are equitable, diverse, connected and democratic and provide a good quality of life.

Economical Aspect of Sustainable Development

  • Economic sustainability means establishing economy models that are economically viable, environmentally sound and socially responsible.
  • In this concept land, water, forest, mineral resources are used to optimum level to achieve good growth for current population. But there should not be loot of resources. We are both consumers and custodian of natural resources.
  • This requires participation from all sectors of the community, to determine community needs and to identify and implement innovative and appropriate solutions.
  • We can understand this concept using following example of promoting a model of economic sustainability in an area.
  • Agriculture and Food Systems: Community efforts can be used to preserve agricultural land, and to encourage sustainable agricultural practices. W'e can facilitate the production and distribution of locally produced food.
  • Small Business: Small businesses are sources of employment and providers and consumers of goods and services that sustain the local economy. Their operation should support the local ecology, minimize energy use and waste, and utilize recycled products and materials.
  • Urban/Rural Economic Ties: It is in the interest of urban and rural residents to work together in mutually supportive ways. Using cooperative efforts in trading and tourism, and development of low- impact regional planning and transportation systems this tie can be improved.
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