Arguing that economic growth will eventually stop because we will run out of natural resources:A. must be correct because scarcity exists. B. will only be correct if growth takes the form of newer, more efficient goods and services. C. ignores the power of markets to recognize shortages and induce changes in behavior. D. is supported today by the fact that richer countries have fewer natural resources.

Question

Coby Casey

Business

7 September, 12:19

Arguing that economic growth will eventually stop because we will run out of natural resources:A. must be correct because scarcity exists. B. will only be correct if growth takes the form of newer, more efficient goods and services. C. ignores the power of markets to recognize shortages and induce changes in behavior. D. is supported today by the fact that richer countries have fewer natural resources.

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Answers (1)

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Sarai Blackburn · Answer 1

C. ignores the power of markets to recognize shortages and induce changes in behavior

Explanation:

The market will innovate and find new efficient goods and services. Also, it will change his behavior once the shortage generates sufficient increase in price and quantity that modifies the agent conduct towards certains goods.

This means, the market will keep growing and the statement of stop grow will not occur.