studies the allocation of natural resources
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Natural resource economics focuses on the supply, demand, and allocation of the Earth's natural resources. ... Economists study how economic and natural systems interact in order to develop an efficient economy.
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Economists studies the allocation of natural resources. As 'economics' is the branch that is associated with the allocation of natural resources.
An economist observes the natural resources, their demand, supply, availability and distribution.
Explanation:
- Essentially, the study of allocation of natural resources is called natural resources economics.
- It deals with the decisions made by society in allocating the scarce resources, and how they use it as input to produce output (goods).
Hence, the studies the allocation of natural resources is referred to as 'economics'.
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