When a Resource Is Being Depleted and Becomes Scarce, the Market's

question 169

True/False

When a resource is being depleted and becomes scarce, the market's way of encouraging conservation is for the price of the resource to rise, without any government intervention.

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Definitions:

U.S. Infantry Troops

Members of the United States Army or Marine Corps who are specifically trained for the role of fighting on foot.

Chief Justice

The presiding judge in the supreme court of a country or a specific jurisdiction, overseeing the court's administration.

Roger Taney

The fifth Chief Justice of the United States, serving from 1836 until his death in 1864, best known for delivering the majority opinion in Dred Scott v. Sandford (1857), which ruled that African Americans could not be American citizens.

Charles River Bridge v. Warren Bridge

A landmark Supreme Court case in 1837 that dealt with the issue of public vs. private interests and upheld that new projects could proceed even if they harmed existing monopolies.