FORESTRY
FOREST PRODUCTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Tinago Falls provides aesthetic value or recreation as cultural service. What valuation method is more suitable to use to determine the total economic benefits?
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Productivity Method
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Travel Cost Method
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Contingent Valuation Method
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Benefit-Transfer Method
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Explanation:
Detailed explanation-1: -The travel cost method is used to estimate the value of recreational benefits generated by ecosystems. It assumes that the value of the site or its recreational services is reflected in how much people are willing to pay to get there.
Detailed explanation-2: -The travel costs method was first applied in the US in 1959 to value the recreational use of nature. There are basically two different types of travel cost methods; one based on a valuation of a single site and one based on choices between multiple sites.
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