Republic of the Philippines

NUEVA VIZCAYA STATE UNIVERSITY

Bayombong, Nueva Vizcaya
INSTRUCTIONAL MODULE
IM No.:IM-BE12- 2NDSEM-2022-2023

Name:_________________________________________ Section____________________________

Please read Lecture 4 attached in the MS Teams (Files), we will have a short discussion via zoom
meeting (schedule to follow). In the learning activity and assignment sections (2 questions), answer the
questions given in an essay format. You may write your answer in a clean paper, if you do not have a
laptop, write legibly, take a picture of your answer then upload via MS Teams (Assignment). Do not
forget to click “Turn In” to submit your answer. Your submitted answer will serve as your graded
recitation/participation in the class. Please take note that credits will be given to authentic and original
works.

I. LEARNING ACTIVITIES (50 points)

Explain the difference between willingness to pay (WTP) and willingness to accept (WTA).

II. ASSIGNMENT (50 points)

It is said that when economists attempt to measure the benefits from improved
environmental quality, they are measuring not the value of the environment but the preference of
people for an environmental good or environmental bad. Why is it very important to know this?
Answer this question using specific example(s) of your own to illustrate the point you are making.

In accordance with Section 185, Fair Use of Copyrighted Work of Republic Act 8293, the copyrighted works included in this mat erial may be reproduced for
educational purposes only and not for commercial distribution
NVSU-FR-ICD-05-00 (081220) Page 1 of 1
Prepared by: Aljanet M. Jandoc, PhD., EnP.