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Definition of Total economic value

Total economic value Definition from Science & Technology Dictionaries & Glossaries
Bioglossary
Description: The sum of use and non-use values with due consideration of any trade-offs or mutually exclusive uses or functions of the resource/habitat in question.
Source: Global Biodiversity Assessment GBA
© European Communities, 1995-2004
Total economic value Definition from Encyclopedia Dictionaries & Glossaries
Wikipedia English - The Free Encyclopedia
Total economic value (TEV) is a concept in cost benefit analysis that refers to the value derived by people from a natural resource, a man-made heritage resource or an infrastructure system, compared to not having it. It appears in environmental economics as an aggregation of the (main function based) values provided by a given ecosystem. Those include use and non-use values.

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