Question
Travel cost method
Answer :
Word Count : 258
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The Travel Cost Method (TCM) is a technique used in environmental economics to estimate the economic value of non-market goods, particularly recreational sites such as parks, lakes, or forests. The basic principle of TCM is that individuals incur travel costs to visit these sites, and these costs can be treated as a proxy for the value they place on the site. By observing how much people are willing to pay in terms of travel expenses,
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