Predictions that natural resources such as oil will be essentially used up in the next few decades
A) have been frequently made for the past century but have always proven to be false.
B) have usually been based on the quantity of proved reserves.
C) have ignored the role of price in governing the quantities demanded and supplied.
D) All of the above are correct.

Question

Quizplus · Accepted Answer

Predictions about the depletion of natural resources have historically been inaccurate (A), often rely on current proved reserves without considering future discoveries or technological advances (B), and typically overlook how price changes can affect supply and demand (C).

Predictions That Natural Resources Such as Oil Will Be Essentially