Question

which of the following has no economic value a)iron ore b) petroleum c) natural beauty d) car​

Answer 1

Answer:

c) natural beauty

Explanation:

now a days all are in mobile generation via all are useing mobile and not going to montane treaking to see the beauty of natura.

Answer 2

Natural beauty has no economic value.

Explanation:

• Not all resources have economic value because it is valued by someone.
• That means they are willing to give something up for it.
• Anything that can be used to satisfy our needs is also known as resource.
• Every resource have some economic value.
• Examples, the remedies made by a grandmother have no economic value but they are patented and sold in market they will have some economic value.
• Economic value is a measure of the benefit provided by a good or service to an economic agent.
• If a consumer is willing to buy a good it implies the customer places a higher value on the good than the market price.
• The difference between the value to the consumer and the market price is called consumer surplus.
• There are nine common economic values that people consider when evaluating a potential purchase.
• They are efficiency, speed, reliability, ease of use, flexibility, status, aesthetic appeal, emotion, and cost.
• True economic value measures the benefits that product delivers to the consumer.
• Perceived value are value the consumer understands the product to deliver, product benefits are apparent to the consumer and perceived value approaches objective value with little effort.
• The modern subjective theory of value was created by william stanley jevons, leon walras and carl menger in the late 19th century.
• To calculate economic value added, determine the difference between the actual rate of return on assets, the cost of capital and multiply this difference by net investment in the business.

To learn more...

1. Which items have no economic value

https://brainly.in/question/16415501

2. Which one of them have no economic value- a) iron ore b) solar energy c) natural beauty d)car

https://brainly.in/question/16232599