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Nes 401: Economic Valuation For Environmental Protection Question Paper

Nes 401: Economic Valuation For Environmental Protection

Course:Bachelor Of Science In Environmental Science

Institution: Maseno University question papers

Exam Year:2012

MASENO UNIVERSITY

UNIVERSITY EXAMINATIONS 2012/2013

FOURTH YEAR FIRST SEMESTER EXAMINATIONS FOR
THE DEGREE OF BACHELOR OF SCIENCE IN ENVIRONMENTAL
SCIENCES WITH INFORMATION TECHNOLOGY

(MAIN CAMPUS)

NES 401: ECONOMIC VALUATION FOR ENVIRONMENTAL PROTECTION

Date:3rd December, 2012 Time:11.00-1.00pm

INSTRUCTIONS:
.Answer question ONE(Compulsory) and any other TWO questions.

MASENO UNIVERSITY ISO 9001:2008 CERTIFIED

1. a)Describe the characteristics of an efficient marketing system of private property.(10 marks)

b)With the help of a suitable illustrations, depict the elements that constitute total economic
value (10 marks)

c)By means of a production function, explain the relationship between output and input.(10 marks)

2.Using Willingness To Pay to impute a value for unpriced environmental resource by observing consumer behavior and hypothetically varying the price of each visit:

a)Tabulate the hypothetical results showing WTP, actual price paid and consumer surplus.(5 marks)

b)Explain how you would determine total actual price paid(5 marks)

c)Calculate total consumer surplus(5 marks)

d)From the results of (a) above , construct a D Recreation(5 marks)

3.Markers are efficient users of environmental resources. Discuss.(20 marks)

4.(a)Due to the problem of insecurity in your neighborhood, you decide to purchase a dog(a German shepherd) to help you sort out the problem. With close reference to Cost-Benefit-Analysis, fill in the black spaces.

CBA COSTS BENEFITS

PRIVATE ................... ..................
................... ..................

EXTERNAL ................... ..................

................... ..................
SOCIAL ................... ..................
................... ..................

(15 MARKS)
(b)Based on the above costs and benefits, indicate the basis of your preference and thus deduce whether it was worth-while decision to have purchased the dog. (5 marks)

5.Depict graphically how:
a)Market interaction of supply and demand determines the equilibrium market price of an environmental asset/service (10 marks)

b)The market price determines how much marginal revenue producer will receive for each unit of output sold (10 marks)

6.Discuss the problems experienced in setting and implementing environmental taxes. (20 marks)

Nes 401: Economic Valuation For Environmental Protection Question Paper

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