What can we do when a resource is economically depleted?
A) find new reserves of the resource
B) develop substitutes for that resource
C) increase the price of the resource
D) use a common-property approach

Question

What can we do when a resource is economically depleted? 
A) find new reserves of the resource 
B) develop substitutes for that resource 
C) increase the price of the resource 
D) use a common-property approach

Quizplus · Accepted Answer

When a resource is economically depleted, finding new reserves of the resource is not always possible or feasible. Increasing the price of the resource may temporarily decrease demand but it also makes the resource more expensive and less accessible to those who cannot afford it. Using a common-property approach can be difficult to implement and often results in overuse and depletion of the resource. Developing substitutes for the resource is the best option because it encourages the use of alternative resources and reduces demand for the depleted resource. This can lead to the development of new technologies and industries that are not dependent on the depleted resource.

What Can We Do When a Resource Is Economically Depleted