Question

Forecasts projecting that resources such as oil, trees, and farm land vkill be depleted have been incorrect primarily because they have failed to account for O a naeased government regulation of the resource as it approaches depletion O b. Thes is a tnck questionc we have already t ouft of several natural resources thuat were privately owned and thes well be an increasing problem in the ure O c.pnadet government purchaces of the resource in order to conserve& for ire generations Od.the nde of prem; tf the supply of a resource decreases and t becomes more valute, pnce wa me, rereong the incerthu bo both conserve the resource and find more of it.

Answer 1

Forecast projecting that resources such as oil, trees and farm land will be depleted have been incorrect primarily because they have failed to account for. the role of prices, if the supply of a resource decreases and it becomes more valuable, its price will rise, increasing the incentive to both conserve the resource and find more of it.