Economic plants are those utilized for human benefit. Uses include food, livestock feed, materials, pharmaceuticals, and environment maintenance.
Uses and Benefits
Plants provide staple foods like cereals and fruits. They also feed livestock consumed by humans. Plants supply materials for shelter, fuel, and replenish air. Some provide pharmaceuticals, tobacco, coffee and alcohol. Trees and ornamentals beautify, attracting customers. Economics helps improve living standards. It allocates scarce resources.
Leaves make plant food and air through photosynthesis. Factories with equipment for production are called plants in economics.
Economically Important Plants
The diets of most cultures rely substantially on species of Poaceae (grass family) and Fabaceae (legume family). The world’s three most important cultivated plants are grasses: wheat, rice, and maize. Solanaceae (potato), Rosaceae (apples, pears), and Euphorbiaceae (cassava) also provide critical resources for humans.
Without plants, human survival is impossible. Photosynthesis produces oxygen and absorbs carbon dioxide. Plants filter out pollutants and freshen indoor air. They supply carbohydrates, fruit, vegetables, cooking oils, beverages, fibers, dyes, and building materials. Many provide ingredients for pharmaceuticals. As populations and incomes grow, demand rises for these precious plant resources.
Economic Role and Services
Plants clean air, filter water, decompose wastes, pollinate flowers, hold soil. These processes make ecosystems clean, sustainable, functional, resilient to change. Needs are growing rapidly because of population growth, incomes, urbanization.
In economics, a plant is an integrated workplace for production of goods. A plant consists of physical capital like buildings and equipment for production. Markets determine the economic value of plants based on uses and benefits. Demand and supply determine price.
There are thousands of economically useful plants. Not included are ornamental plants. Fiber industry depends on cotton, lumber on wood. Willow bark contains aspirin used in medicine. Planting medicinal crops increases need for farmers and manufacturers. Exchanging goods with foreign countries also rises.
Plant resources are crucial, providing food, raw materials, contributing to well-being and economy. Agriculture forms the foundation of the food system, generates economic activity. Trees and plants beautify areas, create a positive environment, attract customers. Trees remove carbon dioxide, save on cooling costs. Nearly every activity involves plants – electricity, typing manuscripts. Well-manicured lawns show devoted homeowners. Weeds reveal carelessness. Abundant plants thought to be aphrodisiacs, associated with fertility.