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Forest Econ & Finance - Coggle Diagram
Forest Econ & Finance
definition
Econ
social science
allocating scare resources
competing & insatiable
human want
classification of resources
based on renewability
renewable resources
can replace themselves
increase w/ prper mgnt regime
non renewable resources
do not have capacity to replace themselves
total phys quantities do not increase significantly w/ time
or very slow rates
market structures
market
place
buying & selling take place
particular time
one price prevail (traditional)
group of firm/individual
comm w/ each other
purchase of G/S resources
buyers market
monopsony
one buyer
oligopsony
few buyer
pure competition
large number of buyer & seller
ideal market
common in forest product
sellers market
pure competition
ideal market
products are homogenous
monopoly
one seller
oligopoly
few seller
monopolistic competition
v competitive
large number of buyer & seller
products are differentiated
products are good substitutes for each other
unique char of forestry
long period of prod
tree rotation varies
complex prod relations
forests are ecosystem
forest ecosys is complex
might affect other components
external benefits & costs
externalities
external cost
negative externality
renewability/nonrenewability
unpriced value
water has no price
consumption not related to paying for the service
factors influencing ofrest production
definition
timber
trees suitable for conversiton
industrial forest product
industrial roundwood
stumpage terms
stumpage
standin timeber
unprocessed form
as it is found in the woods
strumpage value
selling price - production costs - margin for profit & risk
price of puno habang nakatayo
residual value
stumpage valuation
process of esetimating
cvalue of standing timber
stumpage price
price @ w/c the seller sells the timber
final price
factors influencing
OWNERship
propertry right
certain power to the
types
private property
ind
state
common
open access
most serious problem in natural resource use
want to be eliminated
interest
price paid for the use of money/capital
risk, uncertainty ^& expectation
increases the interest very much'