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One issue that can spring from scarcity of natural resources is economic. When items are scarce, the price for those items goes up. Oil is a good example of this effect.
a silly guy
4 Economics
4 economics
economics
4 Economics
4 Economics
One issue that can spring from scarcity of natural resources is economic. When items are scarce, the price for those items goes up. Oil is a good example of this effect.
a silly guy
profeteering
Chair is not considered a capital resource. Capital resources are the items that is used to produce a certain product. For example, machines are capital resources. Chair is more of a finished product, which is then sold.
Natural Resources are the primary trade items in the world.
farm families began to produce fewer items for their own consumption
Europeans were looking for spices, such as pepper, cinnamon, and nutmeg, during the Age of Exploration. They also sought out precious metals like gold and silver, as well as luxury goods like silk and porcelain. Additionally, Europeans were interested in finding new trade routes to Asia and expanding their empires.