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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.
What are your thoughts on Putman’s “Bowling Alone,” the idea that there has been a decline in social capital in North America? Do you agree or disagree with the assertion? Support
concept of indifference curve
How does it work? how is its basic structure?
Why and how the State should intervene through government apparatusin the economic sphere of the country, has been a significant discourse in economicsfor long. According to one th
Earlier than the Civil War, the South graded with the North and with England. It sold cotton and bought manufactured goods and food. Throughout the war, one of Lincoln's first acti
externalities produced by a monopolist
As you know, the principal-agent problem stress the effect of asymmetric information between the principal and the agents on economic outcomes, the equilibrium in a principal-agent
QUESTION 1 (i) The implementation of e-Government presents a number of challenges to both the Government and citizens. Discuss these challenges using appropriate examples.
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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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