Environmental resources are classified into two broadheads – (i) Non-renewable resources and (ii) Renewable resources. Both two types of resources are essential for economic development of an economy. So friends, In today’s article we are going to know about What is the maximum Sustainable Yield? (Concept of Sustainable Yield of renewable resources) . So let’s discuss in details.
Concept of Sustainable Yield of renewable resources
The nonrenewable resources are exhausted. Such as petroleum or minerals. However, renewable resources are different from non-renewable resources because of the fact that they are naturally regenerated on the time frame that is relevant to human exploitation.
Catching a fish or cutting a tree does reduce the population of fish or tree in any period. But unless the population has already been reduced to the point of the critical time period, natural growth with replace the loss due to the harvest within a period of time.
The renewable resources are commercially valuable. As for example- Catching and selling of fish, cutting down the trees and selling the timber. Therefore, these resources and their exploitation are determined by the objective of profit motive.
In order to earn maximum profit people exploit the renewable resources in such a way that it is very difficult for the nature to regenerate it. In that sense renewable resources are also exhausted.
What is the Maximum Sustainable Yield?
The sustainable yield of natural capital is the ecological yield that can be extracted without reducing the base of the capital itself. It means the surplus required to maintain ecosystem services at increasing level over time. It forestry terms it is the largest amount of harvest activity that can occur without degrading the productivity of the stock.
The concept of maximum sustainable yield can be explained with the help of following figure. In the figure on OX axis we measure resource stock (fish population) and on OY axis we measure growth rate.
With human intervention when catch level equals the growth of the stock, it is known as sustainable yield. In the above figure, maximum sustainable yield (MSY) occurs when the growth of resources is at the maximum (Xm). If the catch rate is Y1, then sustainable yield for resource stock is X1.
This is not the maximum sustainable yield. Rather it is an unstable yield which may make the resource stock very critical. Thus the maximum sustainable yield is the optimum resource stock which does not reduce the base of the resources. It is economically optimal position.
So friends, this was the concept of maximum Sustainable Yield? (Concept of Sustainable Yield of renewable resources). Hope you get the full details about it and hope you like this article.
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