Question

ECO 204 Wk 1-1

Are Humans Prepared to Overcome Resource Scarcity in the Future?

• Explain what resources are.
• Evaluate why current resource scarcity is problematic.
• What future problems would result from scarce resources?
• Do you agree or disagree, and why, with Chelsea Follett about overcoming future resource scarcity?
• Recommend how to overcome present and future resource scarcity.

Answer 1

a humans are aware of the shortage of resources . because various theories and studies conducting to solve the issue . in the modern world the population has been increasing and tremoundasouly but the resources to over come and satisfy the need of such population is limited because human wants are unlimited. they use the resources for their consumpton without thinking of their future , the reporting crude ooil shortage and deforestation and increasing the populations are the symptous of the uncontrolling behaviour of human beings , it automatically leads to scarcity.

varis govts and NGOS were undertaking such kind of action plan for energy as well protectinng the environments and nature they were undertake plan do action cycle and various campaigns regarding it

b the major resources are natural resources, human resources,economic resources etc

water, energy , wind , forest , petrolium products etc are the examples of resources

d the biggest problems is that unlimited huaman wants and limited resources , and uncontollable usage of existing resources as well, the exploitation of natural reources creates the issues like deflation of ozon , climate change and shortage of resources

the shortage of food crops and all threat to the whole human wood ,

e Chelsea Follett says scarcity can be survived if the people continue utilizing the assets proficiently and develop such associations or organizations that improve this productivity and create substitutes for most assets which will be depleted later on.

it is true that in the presources are limited and present scenario resources are limited and the human wants are unlimited, it results so called shortage of resources .

human interventions are great because they find out the substitues for the resources in all terms , because of the unlimited wants and needs . for example in case of petrolium products the needs are higher and the resources are linited here comes the controlling mechanism of price and people tries to use of the close substitutes like electric vehicles and energy from renewable resources. like solar , wind etc

we can over come the scarcity by

• implementing the controllling mechainsm
• finding the close substitutes
• policy implementation by the govt, wild lfe population control is one of the such mechanism.

contolling the usage of resources while using alternative channels . for example we can control the usage of petrol by using the public transporaion instead of private owned vehicles .