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How Does the Price System Cope with Depletable Resources

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How does the price system cope with depletable resources?


Definitions:

Catalyzed

A process in which the rate of a chemical reaction is increased by the presence of a catalyst, which remains unchanged by the reaction.

Heterogeneously Catalyzed

A reaction process aided by a catalyst that exists in a different phase than the reactants, usually solids catalyzing reactions in liquids or gases.

Solid Catalyst

A solid catalyst is a substance that increases the rate of a chemical reaction without being consumed in the process, and it maintains its solid physical state during the reaction.

Reactants

Starting materials in a chemical reaction, which are expended in the creation of the final substances.

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