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Forecasting is required in many situations. Stocking an inventory may require forecasts of demand months in advance.
Environmental cost-benefit analysis was developed by economists in the belief that monetary valuation of the environmental repercussions of economic activity is essential if the "environment " stands any chance of being included in government and business decisions.
Ecological economics addresses one of the fundamental flaws in conventional economics--its failure to consider biophysical and social reality in its analyses and equations. Ecological Economics: Principles and Applications is an introductory-level textbook that offers a pedagogically complete examination of this dynamic new field.
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