Proved Reserves of Tin Have Declined Since 2000, but the Price

question 66

Multiple Choice

Proved reserves of tin have declined since 2000, but the price of tin has fluctuated for the past six decades, with no obvious upward or downward trend. This indicates that

• A) the world will run out of tin in a few years because the proved reserves have fallen.
• B) short-term rises in demand and/or declines in the supply of tin have occurred over time, but there is no reason to worry about running out of this resource in the foreseeable future.
• C) the demand for tin has been rising and the world will run out of tin in the future unless there is a reversal of this trend.
• D) the market price of tin will rise as miners discover more tin.

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Definitions:

Panic Disorder

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Representativeness Heuristic

A cognitive bias where people judge the probability of an event by how much it resembles a typical case.

Prototypical Disorders

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Psychological Disorders

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