Which of the Following Indicates Greater Scarcity of a Natural

question 169

Multiple Choice

Which of the following indicates greater scarcity of a natural resource?

• A)an increase in its demand
• B)a decrease in its supply
• C)an increase in its price
• D)a decrease in its stock

Examine the influence of regulatory policies on business operations and product introductions.

Use consumer price index (CPI) data to compare costs and purchasing power across different times and locations.

Understand and apply economic analysis to environmental policy decision-making.

Differentiate between positive and normative economic analysis.

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Definitions:

Marine Ecosystems

Complex systems of marine life and their environments, ranging from coral reefs and mangroves to the deep sea, vital for the planet's diversity and climate.

Recreational Fishing

Fishing activities undertaken for pleasure or sport rather than for commercial purposes.

Coastal Wetlands

Coastal wetlands are areas where water and land meet, such as marshes and bogs, which provide critical habitats for many species and act as natural barriers against severe weather.

Agriculture And Development

The interrelated process where agriculture contributes to economic growth and development, while development promotes agricultural improvements.