WHAT IS ECONOMIC DIVERSITY? - CULTURE VOCABULARY - 2025

The economic diversity strategy is a reliable and cost effective marketing that can produce products, goods or services tailored to the needs of people.

Economics as a social science encompasses activities related to the processes of development, marketing and consumption of products, goods or services, necessary for people, which, whether they acquire them or not, thus establish the movement of the market.

Said science must be made up of various areas, always carrying out an analysis of the activities that determine the costs of production of goods, productive factors such as labor, capital, land, as well as the movement of markets.

The economy based on economic diversity considers that to estimate the costs of products or benefits, one must take into account the ecological balance, the conservation of ecosystems, as well as the economic value of their damage or loss.

Characteristics of economic diversity

The integration of this environmental balance in economic policies is part of the objectives of sustainable development, considering that an appropriate administration of diversity facilitates business, from the environmental, commercial and social fields.

However, for this ecological balance to be possible, policies for the commercialization and consumption of products and goods must be modified, which must protect natural resources.

Especially in those economies that believe that through science and technology they can substitute goods and services from ecosystems, with the same quality and durability.

Role of economic diversity

Knowing and highlighting the benefits of diversity is important for the design of planning and development strategies that encourage decisions tailored to needs.

Diversity and sustainability are an inseparable part of environmental goods, in the same way, this principle must be used in the economic sphere, in order to obtain optimal economic diversity, which incorporates different entities from each sector of the economy.

Modern organizations present a conscious growth, such as those in Europe and the United States, since they have reached optimal levels of well-being, through the development of economies based on diversity, taking ecological balance as a principle in their production processes.

Plurality as a strategy for economic diversity

Plurality is a conception of economic diversity that includes both the commercialization processes of products, goods and services, as well as the skills of employees and their impact on natural resources to strengthen capacities in a local economy, which can compete in the global market.

Having plurality among economic policies greatly improves the integral development of a country, due to the variety of protagonists and maneuvers chosen to satisfy economic, social, cultural and environmental needs.

The great economic models are related to plurality. On the one hand, capitalism, whose methods of organization are represented by private ownership of the means of production and the use of wage labor.

And on the other, socialism, whose organizational system defends the dissolution of private property or socialization of the means of production.

These models apply plurality as a diversity strategy when conducting their studies and demographic projections, to determine which products or services are sold with the best opportunities within the economy.

Economic diversity can also refer to what companies have to offer.

Production systems and economic diversity

The importance of rationally using natural assets in the economy has increased worldwide, through some economic transformation and diversity programs.

However, negative behaviors that threaten biological resources and biodiversity continue to be observed. This means that, even when these terms are used in the political, academic, scientific and economic sectors, they have not been fully implemented.

In this way, natural resources and everything related to biological diversity are put at risk, which plays a very important role as an ecological stabilizer. This relationship of biological systems helps to ensure the permanence of diversity over time.

From an ecological point of view, diversity is very important, since ecosystems protect the conditions necessary to preserve the life of species, including human beings.

Also from the socioeconomic sphere, because it guarantees the permanence of the raw material, necessary to carry out the transformation functions and use them as inputs in the production processes, consumer goods and environmental services.

Biodiversity resources represent valuable potential for the economic development of communities, based on diverse use options that last over time.

For example, in the field of genetics, the manufacture of medicines from plants and microorganisms; as well as ecological tourism, the sowing of typical species, the raising of animals for different purposes and forest care, among others.

References

1. Sustainable development. Economy and economic diversity. Recovered from: irving9613.wixsite.com
2. Figueroa, (2005). Scielo: Valuation of biodiversity: Perspective of environmental economics and ecological economics. Recovered from: scielo.org.ve

Economic scenario. Recovered from academia.edu.