OCR A2 Economics - Valuing Externalities valuing externalities 3.5 / 5 based on 2 ratings ? EconomicsCompetitive marketsA2/A-levelOCR Created by: Vixxx92Created on: 28-01-11 09:32 Time is divided into 2 types, working and leisure. Commuting is valued as - Leisure Time 1 of 6 What are the 3 main externalities associated with congestion? Fuel loss, time wasted and increased vehicle depreiciation 2 of 6 Leisure time is valued on the basis of value judgements, or- willingness to pay 3 of 6 Noise Pollution is valued using what principle Compensation 4 of 6 The problem with this is... Fuel prices are very volatile so likely to be inaccurate 5 of 6 Accident Costs take into account two things. They are... Opportunity Cost (what the person would otherwise have produced) and Material Cost (to the NHS etc) 6 of 6
OCR economics, global economy economic growth chapter notes 5.0 / 5 based on 1 rating Teacher recommended
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