Significance of Economic importance
Economic importance encompasses the various roles that natural resources, particularly plants, play in trade, medicine, and agriculture. It includes the significant contribution of medicinal plants to healthcare and local economies, especially in developing countries. This concept also highlights the economic value derived from diverse plant species, such as Acacia nilotica for timber and medicinal applications, and the critical role of crops like millets in providing livelihoods. Overall, economic importance reflects how these resources sustain communities and support economic development.
Synonyms: Economic value, Economic impact, Economic significance, Financial value
In Dutch: Economisch belang; In Finnish: Taloudellinen merkitys; In Spanish: Importancia econ贸mica; In German: Wirtschaftliche Bedeutung
The below excerpts are indicatory and do represent direct quotations or translations. It is your responsibility to fact check each reference.
The concept of Economic importance in local and regional sources
Economic importance highlights the significant value generated by the roles and labor of slaves in shaping society's economy, underscoring their crucial contributions to various sectors and overall economic stability.
From: Triveni Journal
(1) The value derived from the roles and labor of slaves within the economic organization of society.[1]
The concept of Economic importance in scientific sources
Economic importance highlights the value of substitute drugs and plants in a country's economy, especially when originals are limited. It underscores their significance in commerce, particularly within the medical sector.
From: The Malaysian Journal of Medical Sciences
(1) Economic importance refers to the financial impact or significance of a particular issue, such as a disease, on industries or economies.[2]