If south africa is the world's leading producer of gold, chromium, and platinum, how is it an example of scarcity and the choices every society must make about using resources?

Question

Nikolas Murray

Social Studies

12 April, 05:53

If south africa is the world's leading producer of gold, chromium, and platinum, how is it an example of scarcity and the choices every society must make about using resources?

+3

Answers (1)

Know the Answer?

Samir Mccall · Answer 1

In 1970 South Africa has more than 75% reserve of world gold under it soil but by 1985 it has depleted to 6%.

South Africa today has world largest reserve of platinum with over 78% in 2005.

In the same vein, South Africa has large deposit of Chromium.

Explanation:

In the case of gold, desperation and gold rush made them deplet their gold resources faster than necessary. The same mistake is being wittnessed in their Chromium reserve as China has bought over 50% of South Africa chrmlium deposite, thereby possing a great challange to the market South Africa used to dorminate.

Currently, South Africa is world largest miner of platinum. If restrain and coution is not applied, it is likely to deplet like gold in no distant time.