Give Two Important Reasons Why There Is So Much More

question 20

Essay

Give two important reasons why there is so much more Na⁺ in the oceans than K⁺, despite their similar abundances in the Earth's crust.

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Definitions:

Perfectly Elastic

Describes a market situation where product demand or supply can vary greatly with a small change in price.

Excess Burden

The economic cost to society exceeding the revenue generated by a tax, often resulting from distortions in market behavior.

Economic Decisions

The choices made by individuals, businesses, governments, and other groups that affect the allocation of resources and the distribution of goods and services.

Excess Burdens

The economic inefficiencies that result from implementing a tax, often causing changes in consumption and production behaviors that lead to a loss in social welfare.