The amount of natural resources has continually reduced due to increased demand of an ever-growing population. However, the cost of natural resources has not risen as expected due to technological advancements. There is a prediction that in the coming years, the cost of all natural resources will be high since technology will no longer be a leveling factor.
Keywords- scarcity, natural resources, cost, technology
I wish to pass my special thanks to my course tutor and classmates who helped me complete this paper. The paper has enabled me to acquire a lot of information and hence, I have gained new knowledge on matters concerning the economics of natural ...