Is rising costs of resource are indicates of their depletion or is it due to covid 19 explain?
Answers
Answer:
Rising costs could be due to many factors. Apart from volatility and supply -demand imbalance ,the reasons could range from political , trade agreements between few countries at the cost of others and calamities(Covid-19). Single source supplier could also create havoc in manipulating prices. As regards resource depletion, it is not as if it happens within a short period. The industries are all well informed about the availability of raw materials and accordingly are working on newer technologies so as to reduce dependence on the depleting resources. In fact tech disruptions have become so common that new products with better features at less cost are replacing the existing ones. Coal( nuclear), petrol( Hybrid) etc are examples of depleting resources and alternatives