Question

Bioprospecting agreements between pharmaceutical companies and local governments involving fees and the sharing of royalties from new drugs that might be discovered are new practices that recognize the ______________ of biological diversity.

Answer 1

economic value

Explanation:

With the development of genetic manipulation technology, we can utilize biological diversity much more than before.

Many organisms have traits that can be harvested and turned into a product with high economic value, which make the government start to protect it. In fact, the first antibiotic is produced by a fungus.

Many countries with high biological diversity don't have enough advanced technology to utilize them. In this case, a bio prospecting agreement can benefit both the government and the company.