Critical Analysis of Loss and Damage Concepts under Process of Economic Assessment

In the scientific literature, as well as in political and business life, the concepts of loss and damage are often used, but so far, studying the research papers are often confounded under what circumstances and conditions loss or damage concepts could be used. Due to the fact that the loss and damage concepts are widely used in economic literature, legal terms, trading, and financial system, the use of these concepts is quite complicated and should be additionally clarified. However loss and damage concept as a single economic phenomenon under process of economic assessment is not clearly enough defined and requires additional researchers’ attitudes.