When Valuing Assets,the Travel-Cost Method (TCM)uses the Costs Incurred by Individuals

question 5

Multiple Choice

When valuing assets,the travel-cost method (TCM) uses the costs incurred by individuals travelling to a particular location plus:

• A) the opportunity cost of leisure alternatives forgone.
• B) opportunity costs of wages forgone.
• C) average costs of all trips made by the traveller.
• D) none of the given answers.

---

Definitions:

Hans Selye

A Hungarian-Canadian endocrinologist known for his research on the stress response, identifying the General Adaptation Syndrome.

Mihaly Csikszentmihalyi

A psychologist known for his work on the concept of 'flow,' a state of heightened focus and immersion in activities.

Eric Berne

A psychiatrist and the founder of the transactional analysis theory in psychology.

Avoid-avoid

A decision-making dilemma involving choosing between two undesirable options.