Economics is concerned with human behaviour in the activities of production, consumption, and exchange of goods and services. The original root of the word economics is the same as that of ecology. Both come from the Greek word oikos meaning household.
Forest economics is an applied field of economics dealing with economic problems involved in buying, owning, selling, taxing and managing forest land, whether used for production of water, wildlife, wood or any other product. It is concerned with the impact of the economy on forests and significance of forests to the economy.
Forest economics can be very broadly divided into two categories: (1) Forest industry economics which deals with the economics of the manufacturing processes and products; and (2) Forest management economics which deals with the economics of growing forests and producing products and services from forest land (such as timber, wildlife, water, outdoor recreation, forage, carbon sequestration, maintaining biodiversity).
Gregory, G. R. 1972. Forest resource economics. Ronald Press Company. New York. 548 p.
Nautiyal. J.C. 1988. Forest economics - Principles and applications.
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