Question

Q7. Explain and elucidate the Ricardian approach for estimating the impact of
climate change on land values with the help of a figure. Also explain the role
of empirical estimates obtained from such approaches in economic policy
making.
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Answer 1

What are the external factors?

External factors are those influences, circumstances or situations that a business cannot control that affect the business decisions that the business owner and stakeholders make. The are a large number of external factors can have a direct impact on the ability of your business to ac