Economic Values

Economic Values

Direct Use Value - Output of forest products, from timber to animal furs

Indirect Use Value - Ecological functions of the ecosystem like watershed protection and carbon sequestration

Option Value - Something like an insurance policy premium which people are willing to pay in order to insure the supply of something, the availability of which would otherwise by uncertain

Bequest value - A willingness to pay to preserve a resource for the benefit of one's descendants

Existence value - Values conferred by humans on the ecosystem regardless of its use

The sum of the above five values is the Total Economic Value of the ecosystem.