Question: Question 5 a. What is the difference between Natural Capital assessment and Natural Capital accounting? b. What are the fundamental problems with Cost Benefit Analysis

Question 5

a. What is the difference between Natural Capital assessment and Natural Capital accounting? b. What are the fundamental problems with Cost Benefit Analysis when treating environmental impacts, and how does Natural Capital seek to address this?

c. Briefly discuss the contingent valuation method for estimating economic prices for use in Cost Benefit Analysis. Outline the typical applications, strengths and weaknesses of the methodology.

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