Valuation Methods

The Total Economic Value Framework distinguishes different kind of values.
How does the Total Economic Value Framework divide the value of a good or service?
Total Economic Value = Direct Use Value + Indirect Use Value
Total Economic Value = Use Value + Non-Use Value
Total Economic Value = Option Value + Use Value
In the Framework,  land that is not being used is assigned a value.
Which of these land-based services describes a non-use value of a piece of land?
Tourism and Recreation
Carbon Storage
Biodiversity preservation
Valuation methods capture various components of the total economic value for a given service.      
Which of these statements is true for demand based methods?
They only capture the use value of environmental goods and services
They capture the use value as well as the non-use value of environmental goods and services
They rely on people stating their preferences and do not need actual markets for an estimation of value
Some of the valuation methods are based on the revealed or the stated preference of people.
Which of these valuation methods is not a revealed preference method?
The Travel Cost Method
The Hedonic Pricing Method
The Contingent Valuation Method

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