Which of the Following Statements Is Correct

question 15

Multiple Choice

Which of the following statements is correct?

• A)By definition,all natural resources are nonrenewable.
• B)Market prices give us reason to believe that natural resources are a limit to economic growth.
• C)An economy must be blessed with ample quantities of natural resources if it is to be a highly productive economy.
• D)Differences in natural resources can explain some of the differences in standards of living around the world.

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Definitions:

Education

The process of receiving or giving systematic instruction, especially at a school or university.

Trend Analysis

The practice of collecting information and attempting to spot a pattern, often used in financial markets, but also applicable in analyzing business metrics over time.

Delphi Technique

A method used for forecasting or decision making that involves a panel of experts answering questionnaires in several rounds, with the anonymous responses being aggregated and shared with the panel after each round until a consensus is reached.

Expert Opinion

Insights or views given by a person recognized as an authority in a specific field, often used to inform decisions or clarify complex issues.