The _______ equates the value of a life to the market value of the output produced by an individual during his / her expected lifetime.
A) willingness-to-pay approach
B) cost-benefit approach
C) cost-effectiveness approach
D) human capital approach
E) cost-utility approach

Question

Quizplus · Accepted Answer

The human capital approach equates the value of a life to the economic contributions made by an individual during his/her expected lifespan, such as education, skills, and experience. It is commonly used in insurance and legal contexts to assess damages resulting from the loss of human lives.

The _______ Equates the Value of a Life to the Market