The environment is everywhere and noticeably our surroundings, however, what does environment meant to us? As per the Environment and Ecology Journal, Environment simply means the natural environment which encompasses all living and non-living things occurring naturally on the planet Earth....

Differences in property rights create a motive for trade among otherwise identical regions. Two regions with identical technologies, endowments, and preferences will trade if one, the South, has ill-defined property rights on environmental resources. Trade with a region with well-defined...