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?
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?
Valuation methods capture various components of the total economic value for a given service.
Which of these statements is true for demand based methods?
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?