Q.What do you mean by sustainability? Explain the components of sustainability.

Sustainability is the idea of using resources so that the present generation's needs are met without robbing future generations of theirs. It stands on three pillars — economic, social and environmental sustainability — which must be balanced together. This is an AP Intermediate 2nd-year Economics topic on sustainable development.

Meaning: Sustainability (or sustainable development) means a pattern of development that meets the needs of the present generation without compromising the ability of future generations to meet their own needs. It stresses that economic growth should not exhaust natural resources or damage the environment to the point where future development becomes impossible.

Components (pillars) of sustainability:

1. Economic sustainability. Growth and the use of resources should be such that the economy can keep producing goods, incomes and employment steadily over the long run, without creating crises or exhausting the resource base. It calls for efficient use of resources and lasting livelihoods.
2. Social sustainability. Development should improve the well-being of all sections of society through equity, health, education, nutrition, housing and social justice, so that the benefits of growth are shared fairly across present and future generations. …