What does the term ecosystem services refer to? what are the different types of ecosystem services?
Ecosystem services are the natural benefits that ecosystems provide to humans, categorized into four sections: provisioning (food and water), regulating (climate control), supporting, (nutrient cycles) and cultural (recreation and spiritual benefits). Ecosystem services provide another way to value ecosystems not just for their aesthetic beauty, but the benefits and functions they provide.
The Law of Demand states:
When the price of a good increases, demand reduces, all other things remain the same. This law can be reversed to state that when the the price of a good or service reduces, this will increase the overall demand of that good or service.