Final answer:
The human life value approach takes into account savings, earnings, and investments when determining a person's economic value, but not the occupation directly, even though occupational risks may indirectly affect earnings.
Step-by-step explanation:
When determining a person's economic value using the human life value approach, the effects of savings, earnings, and investments are considered. This approach estimates the economic value of human life based on potential future income, subtracting consumption and adding investments and savings. However, it does not take into account the type of occupation. This is because the value approach is based on financial metrics that do not directly measure the risks or social values associated with different occupations. While some jobs may have a higher probability of death, such as ocean fishery or ice trucking in Alaska, these particular occupational risks are not factored into the human life value approach directly; instead, these risks might be reflected in the adjusted earnings within those fields.