Question

Why might it be useful to place values (i.e., "price") on our environmental and natural resources? Select the False answer. a. It is useful in trying to estimate the benefits and costs of utilizing these resources. b. It is an efficient way to raise taxes for the defense budget. c. Such values/prices can be used in helping to determine the efficient and/or equitable use of the resource. d. It gives "standing" in damage assessment cases

Answer 1

Placing values on environmental and natural resources is useful for estimating benefits and costs, determining efficient use, and providing 'standing' in damage assessment cases.

Step-by-step explanation:

In environmental economics, it can be useful to place values or prices on environmental and natural resources for several reasons:

1. Estimating the benefits and costs of utilizing these resources.
2. Helping to determine the efficient and/or equitable use of the resource.
3. Giving 'standing' in damage assessment cases.

One false answer is option b: 'It is an efficient way to raise taxes for the defense budget.' Placing values on environmental resources is not primarily used for raising taxes for the defense budget, but rather to assess the economic impact and value of the resources in various contexts.