Question
Economics 2. a) Explain with examples the concepts of economic and physical scarcity of a resource. b) Identify the sources of inefficiencies in the allocation
Economics
2. a) Explain with examples the concepts of economic and physical scarcity of a resource.
b) Identify the sources of inefficiencies in the allocation of renewable resources like forests.
c) Provide one case study demonstrating the effort towards efficient management of a renewable resource (you may use the case studies discussed/provided in course materials).
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The Economics Of The Environment
Authors: Peter Berck, Gloria Helfand
1st Edition
978-0321321664, 0321321669
