Pick one of these critical scarce resources: Phosphorus Scandium terbium

- Provide 3 reasons why this resource is so critical along with what the resource is primarily used for. - As the availability of the resource decreases, what would you expect to happen to the price of the resource and how will that impact the demand for the resource, and the costs of production of products that rely on that resource? - Explain 3 ways the national economy would be impacted by decreased availability of this resource. - Explain 3 things American companies should do to minimize the negative economic impacts of declining availability of the resource. - Explain 3 things the Federal government should do to support the economy as this resource declines in availability.