circular flow of income, Microeconomics

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The Long-Run Behavior of Natural Resource Prices Observations – Exhaustion of copper has increased by a hundred fold from 1880 through 1998 signifying a large increase in

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How does the approach of someone who has adopted the precautionary principle differ from someone with a blind faith in substitutability, when it comes to a non-renewable resource l

Proportion of income spent for the commodity , All other things equivalent,...

All other things equivalent, the higher the proportion of income spent for the commodity more price elastic will be the demand.   Most home owners are recognizable with how this de

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if a commodity has limited demand , should economist say that we still have a scarcity ?

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