Total Economic Value (TEV)

Total Economic Value (TEV) is a way to measure the full worth of a natural resource or environment. It includes not only the direct benefits like harvesting trees or fishing, but also indirect benefits such as clean air, water purification, and recreational enjoyment. TEV also considers future values and cultural importance. By understanding TEV, we get a comprehensive picture of the resource’s importance, helping us make better decisions about conservation and sustainable use. It emphasizes that natural resources have value beyond just immediate use, reflecting their overall contribution to human well-being.