An exhaustible natural resource is
Answers
Answer:
coal , petroleum, etc..........
Answer:
Explanation:
This considers whether sustained economic growth is feasible when an exhaustible and non-renewable resource is used in production. Examples of exhaustible natural resources are fossil fuels such as oil, coal, and natural gas, as well as minerals like iron, copper, and aluminium.
The main question is whether it is possible to maintain a non-declining per ca pita income when a natural resource is an important factor in production. In this, the natural resource causes diminishing returns to capital and labor, and its use will decline over time. To compensate for this decline, the technological progress connected to energy must be stronger than the technological progress associated with land. This necessitates further diversion of labor away from production and from labor-augmenting research. The chapter also discusses an alternative possibility for achieving sustainable development: to (gradually) replace the exhaustible energy with renewable energy.