FORESTRY
ECOLOGY AND ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Using economic considerations of resource use, the law of supply and demand describes the
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Availability of abundant resources
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relationshop between the availabilty and worth of resources
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worth of nonrenewable
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reduced demand resulting from lack of available resources
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Explanation:
Detailed explanation-1: -It’s a fundamental economic principle that when supply exceeds demand for a good or service, prices fall. When demand exceeds supply, prices tend to rise. There is an inverse relationship between the supply and prices of goods and services when demand is unchanged.
Detailed explanation-2: -The law of demand and supply is the backbone of a market economy. The fundamental concept refers to the relationship between the sellers and buyers of a particular resource.
There is 1 question to complete.