Firms Whose Products Require ________ Resources - Oil, Coal, Platinum

question 14

Multiple Choice

Firms whose products require ________ resources - oil, coal, platinum, zinc, silver - face substantial cost increases as depletion approaches.

• A) infinite
• B) near finite
• C) finite renewable
• D) finite nonrenewable
• E) perishable

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Definitions:

Ethanol

A volatile, flammable, colorless liquid commonly used as a biofuel and as the principal type of alcohol found in alcoholic beverages.

Corn

A cereal grain which serves as a staple food in many parts of the world, also used as feed for livestock and for various industrial applications.

Oil Prices

Oil prices denote the cost per barrel of crude oil, influenced by factors such as supply and demand, geopolitical issues, and market speculation.

Nonrenewable Natural Resource

Things such as oil, natural gas, and metals, that are either in actual fixed supply or that renew so slowly as to be in virtual fixed supply when viewed from a human time perspective.