Value means worth. The use of a resource depends on its value. Following are the types of values:
(a) Economic Value: Some resources can be bought or sold, or can be used to make things that can be bought or sold. For e.g. Minerals.
(b) Aesthetic Value: We enjoy the beauty of mountains, waterfalls, sea, landscapes. Thus, they are resources which have "Aesthetic Value".
(c) Legal Value: Resources like, Air, Water, Land, etc.. Are essential part of life, thus, it become our responsibility to protect them from pollution. These are "Legal Values" of the resources.
(d) Ethical Value: "Ethical Values" of the resources indicates us that we should protect our flora and fauna from intensive cutting of trees and killing of wildlife.
The economic value of a good or service is determined by the preferences of a given population and the trade-offs agents make given their resources. ... Economic value is also directly correlated to the value that any given market places on an item.
Answers & Comments
Answer:
Here is your answer dear,
Value means worth. The use of a resource depends on its value. Following are the types of values:
(a) Economic Value: Some resources can be bought or sold, or can be used to make things that can be bought or sold. For e.g. Minerals.
(b) Aesthetic Value: We enjoy the beauty of mountains, waterfalls, sea, landscapes. Thus, they are resources which have "Aesthetic Value".
(c) Legal Value: Resources like, Air, Water, Land, etc.. Are essential part of life, thus, it become our responsibility to protect them from pollution. These are "Legal Values" of the resources.
(d) Ethical Value: "Ethical Values" of the resources indicates us that we should protect our flora and fauna from intensive cutting of trees and killing of wildlife.
Answer:
Hiiiiiiiiiiiiiiiii
Explanation:
The economic value of a good or service is determined by the preferences of a given population and the trade-offs agents make given their resources. ... Economic value is also directly correlated to the value that any given market places on an item.