Substance having economic value
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Explanation:
Total economic value (TEV) is a concept in cost–benefit analysis that refers to the value derived by people from a natural resource, a man-made heritage resource or an infrastructure system, compared to not having it
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Understanding Economic Value
Understanding Economic Value The preferences of a given person determine the economic value of a good or service and the trade-offs that they will be willing to make to obtain it. For example, if a person has an apple, then the economic value of that apple is the benefit that they receive from their use of the apple.
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