Doomsday forecasts projecting that a consumable resource will soon be depleted, fail to account for
A) government regulation of the resource.
B) public pressure to conserve usage of the resource.
C) the role of prices in conservation; as the supply of the resource decreases, the price increases and people will turn to alternative resources.
D) supply and demand; as supply of a resource decreases, the demand will also decrease.

Question

Quizplus · Accepted Answer

As the supply of a resource decreases, its price tends to increase, which incentivizes people to reduce consumption and seek alternatives, thus conserving the resource.

Doomsday Forecasts Projecting That a Consumable Resource Will Soon Be