Most prophecies of the imminent exhaustion of many natural resources have not come true because
A)such resources are generally available in infinite quantities.
B)rising prices for resources have stimulated supply and encouraged innovation.
C)the demand for most natural resources has fallen as income levels have increased.
D)government price floors have prevented resource exhaustion.

Question

Quizplus · Accepted Answer

Rising prices for resources have led to increased incentives for conservation and innovation in the production of substitutes, which have allowed for the continued availability of many natural resources. Additionally, advances in technology and resource exploration have led to the discovery of new sources of resources, further increasing supply.

Most Prophecies of the Imminent Exhaustion of Many Natural Resources