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Cost-based methods - Relocation Cost
This method is applicable in situations where natural environment in a particular area is put to some alternative use. For example, the cost of establishing a new protected forest area. In this method, the flow of ecological functions is maintained as in restoration cost and replacement cost techniques.
The difference, however, is that instead of recreating ecological functions in the vicinity, the inhabitants are moved to a different locality.
Our economic systems are of this type and share for general properties. a) Dissipative systems transform energy and process information to maintain a state of organization that
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Discuss whether high indirect taxes are the best way to discourage smoking.
How does it work? how is its basic structure?
Suppose there is certain social norm. Its enactment into statutory law lowers people's private cost of its enforcement because it creates the possibility that violation of norm wi
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In terms of the debate in the media on state owned enterprises ,explain the decreasing cost case and the possibility of privatisation of SOEs such as Eskom and SAA
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