economic valuation

Economic valuation is the process of determining the worth of goods, services, or resources, often in monetary terms. It helps assess the benefits and costs associated with them, considering their impact on society and the environment. This can include valuing natural resources like forests or clean air, as well as analyzing the economic benefits of public projects. By understanding these values, policymakers and businesses can make informed decisions that promote sustainable development and resource management, ensuring that both economic growth and environmental health are achieved.