Which of the following is true about estimating the economic value of life? There are objective market values that can be referred to, and there are mechanisms in which onc could purchase a substitute at a given price. We have direct ways to estimate the hard-to-measure economic value of a human life. It needs to be calculated by including psychological or emotional elements that are typically attached to denth The estimation of the value of human life is needed for private purposes, but not for business purpoce. Estimating the value of the income stream that the deceased person would hare had if she or he had aniriti is one way to estimate the economic value of life