Environmental goods and services are shown as amenities having impact on an individual’s welfare. Some are goods and services in the traditional economic sense, for instance, food, timber, recreation, materials and technology. Such goods and services enter the market place where demand and supply forces determine their price. Markets can be local, national and international.When environmental goods and services are traded, their valuation is done in international prices using the exchange rate of countries involved. Valuation of marketed goods is less complicated because markets reveal information about supply of, and demand for, these goods and services.
Yeti N. Madhoo, “Valuation of Non-market Environmental Goods and Services”, in Saving Small Island Developing States, Commonwealth Secretariat, UK, 2010, pp. 32–47.