Discuss the following statement from Principles of Economics: “Because the environment is fragile and natural resources...

Discuss the following statement from Principles of Economics: “Because the environment is fragile and natural resources are finite, ultimately economic growth must come to an end.”

Expert Solution

Generally, it is considered that the growth rate of the country depends on the availability of natural and environmental resources. Most of the developed countries have emerged rapidly growing countries owing to the availability of natural resources.

Although natural resources are inevitable for the growth rate, it is not true for all countries. Some countries such as Japan have been successful in achieving a high growth rate even without having the natural resources. Most of natural resources rich countries in the African continent are poor. The technology and skills are key to post a high growth rate. Further, the now growth rate has been funded by the service sector.

Therefore, natural resources can lead to a high growth trajectory but such a high growth rate even can be achieved through the use of non-natural resources such as knowledge and skills.

ultimate the economic growth must not come to an end.

Rahul Sunny answered 6 months ago

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Principles of Economics: “Because the environment is fragile and natural resources are finite, ultimately economic growth must come to an end.” Please reply with reference and citation (250 words) no plagiarism please.

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