Recap on environmental valuation methods
Quiz
•
Business, Mathematics
•
University
•
Hard
Xun Zhou
Used 4+ times
FREE Resource
12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following component of total economic value of a resource is correctly identified?
Use value reflects the value people place on a future ability to use the environment
Use value reflects the common observation that people are more than willing to pay for improving or preserving resources that they will never use
Option value is the direct use of the environmental resource
Non-use value is the the benefit or pleasure derived from the knowledge that an environmental good exists without using it
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following correctly states the difference between the observed discrepancy between
willingness to pay and willingness to accept?
Respondents tend to report higher values for willingness to accept than willingness to pay
Respondents tend to report higher values for willingness to pay than willingness to accept
Respondents tend to report the same values for willingness to accept and willingness to pay
Policy-makers ignore this type of survey because of its unreliability
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following is an example of nonuse value?
The value of a river to a recreational fisherman who practices catch-and-release fishing
The value of a forest to a lumberjack
The value of dolphins to commercial fishermen, who don’t harvest the dolphins but use the dolphins to locate fish that they do catch
None of the above are examples of nonuse value
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Identify the best ending of this definition:
Economic valuation of an environmental service is ______
the set of accounting principles for economic activities that are derived from the environmental service
the process of estimating the amount that members of society would be willing to pay for the environmental service
the process of determining the value of the jobs that rely on the environmental service
the assessment of the moral and ethical values that people place on the environmental service
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Revealed preference methods are ______ because they involve actual behavior and ______ because they infer a value rather than estimate it directly
unobservable; direct
unobservable; indirect
observable; direct
observable; indirect
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Complete this sentence:
The hedonic price method can be used to place a value on pollution damages in an urban setting because ______
holding all else equal, property values tend to be lower in polluted neighborhoods
people tend to be hedonistic
pollution makes the workplace riskier so workers in urban areas must be paid a higher wage
pollution makes people wash their homes more often, which is an expensive activity
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following can be referred to as the hedonic price method for valuing environmental assets?
Using 'existence value' to estimate the value of an environmental asset
Using 'willingness to pay' to value an environmental asset
Using travel costs to estimate the value of an environmental asset
Using linkages between variations in house prices and geographical proximity to an environmental asset
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