When determining the value of a natural resource, _____ value relates to the benefit derived from consuming the resources:

Question

Quizplus · Accepted Answer

The use value of a natural resource refers to the benefit derived from consuming the resource, such as using water for drinking or using timber for building. Option value refers to the value people place on having the option to use a resource in the future, even if they are not currently using it. Existence value refers to the inherent value people place on the mere existence of a resource, such as wildlife or a natural landscape. Market value refers to the price a resource can fetch in a market transaction. Profit is not a type of value, but rather a financial outcome.

When Determining the Value of a Natural Resource, _____ Value