Nonmarket goods - PowerPoint PPT Presentation

Overview of Different Types of Values

Overview of Different Types of Values. What I’m Going to Do. Discuss Different Values Ask LOTS of Questions Get You to Think of the Answers. Value. Social -- the principles, standards, or quality which guides human actions Economic -- the market or estimated worth of commodities .

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558 views • 26 slides

Efficiency and Surplus

Efficiency and Surplus. How can economics help determine the optimal size of a project or extent of a regulation?. A few examples. What should be the CO concentration standard in tailpipe emissions? How large should the Channel Islands marine reserve be?

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354 views • 22 slides

Efficient Allocation

Efficient Allocation. Chapter 23, Ecological Economics, Daly &amp; Farley. Pricing &amp; Valuing Nonmarket Goods &amp; Services. Economists suggest we find monetary values for these goods and then use the market to efficiently allocate them.

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323 views • 17 slides

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