Asked by Aaron Russell on Jun 04, 2024

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"Market prices give no reason to believe that natural resources are a limit to economic growth." Explain this statement.

Market Prices

The current value at which goods or services are bought and sold in a competitive marketplace.

Economic Growth

An increase in a country's output of goods and services over time, typically measured by the rise in real GDP, which enhances the economy's overall wealth and living standards.

Natural Resources

Materials or substances occurring in nature which can be exploited for economic gain.

  • Comprehend the correlation between natural resources and the quality of life.
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Harjot SinghJun 11, 2024
Final Answer :
If the world were running out of natural resources, then the prices of those resources would be rising over time. In fact, over long periods of time, the prices of most natural resources, adjusted for inflation, are stable or falling.