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Question

Which of the following statements about contingent valuation is correct?

A It involves valuing the environment based on the cost of its restoration Correct Answer Incorrect Answer
B It involves directly asking individuals about their willingness to pay for environmental benefits. Correct Answer Incorrect Answer
C It involves estimating the value of the environment by analyzing its ecological footprint. Correct Answer Incorrect Answer
D It involves analyzing the market prices of goods and services to determine environmental value Correct Answer Incorrect Answer
E All of these Correct Answer Incorrect Answer

Solution

Contingent valuation involves directly asking individuals about their willingness to pay for environmental benefits.

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