Question

. Explain the importance of economic valuation of natural resources

Answer 1

Answer:

It is a key exercise in economic analysis and its results provide important information about values of environmental goods and services. ... For resources traded in markets such as oil, land, timber, and crops, the value of small quantities of market goods can be measured by their observed price.

Natural resources, both renewable and non-renewable, and ecosystem services are a part of the real wealth of nations. They are the natural capital out of which other forms of capital are made. They contribute towards fiscal revenue, income, and poverty reduction.

Answer 2

Answer:

It is a key exercise in economic analysis and its results provide important information about values of environmental goods and services. ... For resources traded in markets such as oil, land, timber, and crops, the value of small quantities of market goods can be measured by their observed price.

Explanation:

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