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Concepts of economic and physical scarcity of a resource

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Reference no: EM133203161

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).

Reference no: EM133203161

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