Module 4 Self-test

Self-reflection Essay Questions:

Please answer the following self-reflection essay questions. After formulating your answers, you may post them online at the Knowledge Café for this course as a way to share your ideas and glean knowledge from other students’ responses.

  1. What is utility and how do you relate this concept in economic valuation?
  2. Differentiate between consumer and producer surplus.
  3. What is the appropriate framework for conducting economic valuation of forest ecosystem services?
  4. Differentiate between the Marshalian and Hicksian consumer surplus.