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Cost-based methods - Preventive Expenditure
In this method the value of environmental benefit is taken to be the cost of mitigating the adverse impact of environmental degradation. We can cite several examples to explain the method: Farmers often increase the use of inputs (fertilizer, pesticides, seed, etc.) to neutralize the effect of falling land productivity. In order to avoid cough, breathlessness or irritation in the eye residents in an industrial area may take regular medicines. The expenditure on such counts can be added to obtain the total preventive cost, which will provide an estimate of the value of environment.
Given the nature of problems encountered and the enormous task involved few researchers have attempted to consider a comprehensive study on environmental functions. Usually studies have considered a particular environmental function (or a few of these functions) or a particular geographical area. Moreover, for valuation of a particular function there could be more than one valuation tools. The use of a technique (or a combination of these techniques) depends upon the nature of the problem apart from its objectives and the convenience of, the researcher.
what are the costs and consequences of providing the subsidies and welfare?
Jenna's boss has decided to pay her a one-time bonus of $5,000. She decides to save the money until she retires, 4 years from now. She contemplates two savings options. Option A is
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why is public finance important?
Define patronage policy
Q. Relationship between individual preference and social choice? Social Choice is a very kindred area. Some people don't make any distinction between the two while others make.
How does it work? how is its basic structure?
We live in a globalized world economy. Our policy agenda, as we have discussed earlier have changed enormously to include environment, humanity in general as well as the conventio
Explain the following: (Critically Depensated) Growth Function Sustainable Yield Functions Logistic Growth Function
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