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Valuation Tool - Production Function Approach
The production function approach is applied to estimate the indirect use value of the environment. It consists of two steps: first, establish a relationship between the environmental input/service and the output, and second, estimate the monetary value of the environmental function.
For example, soil erosion upstream causes siltation in canals, which reduces the flow of irrigation water. As a result of decrease in water supply, there is a decline in crop production downstream. In order to measure the cost of soil erosion we estimate the crop loss due to siltation and find out its value m money terms, which can be considered as an estimate of the cost of soil erosion.
Question 1: i) Describe the concept of circular flow of income. ii) Comment on the view that ‘GDP is the best measure to evaluate economic growth and standard of living'. iii)
Read the titled book 2010 State of the World: Transforming Cultures from Consumerism to Sustainability written by the Worldwatch Institute.Learn through their findings valuable inf
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with the aid of labelled production possibilty frontier explain the concept of opportunity cost
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Q. Importance of heterogeneity? The importance of heterogeneity for public policy process can be summarized in two propositions. - Heterogeneity or conflict of interests is
Your organisation has tasked your to reduce the rate of a particular type of incident or particular type of high risk hazards which is commonly occurring. Your task requires you to
study guide for Magruder''s American Government. the tests are supper hard
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Industries in the country of Technologia invest in latest equipment that annually enhance productivity of private workers by three percent. Government employees do not profit from
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