economics question EASY?

D

Dmitri

New member
oil-25 years
Gas- over 100 years
Coal- over 300 years

when they run out, the nation will have to diversify into a different industry or find how to compensate for the lost output to maintain its wealth.


if it used the resources for own use. it will have to find alternative resources to keep its economy running at the same pace.

Russia is an example of a country that will try to do so sometime in the future, to avoid getting into poverty
 
The price goes up. If it is popular people are willing to pay more to get it. Don't know how old you are but if you remember the Cabbage Patch kids, that's a classic example, insane as it was.
 
The price goes up. If it is popular people are willing to pay more to get it. Don't know how old you are but if you remember the Cabbage Patch kids, that's a classic example, insane as it was.
 
What will happen to the production of a particular product if it proves so popular that the supply continually runs out? Why?
 
The price goes up. If it is popular people are willing to pay more to get it. Don't know how old you are but if you remember the Cabbage Patch kids, that's a classic example, insane as it was.
 
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