Environmental and Social Costs Quiz
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Questions and Answers

What is a likely consequence of scarce resources according to the text?

  • Increased resource prices (correct)
  • Environmental preservation
  • Decrease in consumer demand
  • Lower costs for businesses

    • How can scarce resources impact inflation according to the text?

  • Creating more job opportunities
  • Leading to a decrease in consumer spending
  • Driving up prices due to scarcity (correct)
  • Reducing overall production

    • In the context of overfishing, what effect could scarcity of fish have on consumer prices?

  • Decrease in consumer demand for fish
  • Decrease in fish prices due to high availability
  • No impact on fish prices
  • Increase in fish prices due to scarcity (correct)

    • How might inflation resulting from scarce resources affect businesses?

    <p>Increased costs of raw materials</p> Signup and view all the answers

    What economic factor is highlighted in the text as a consequence of rising resource prices?

    <p>Decreased consumer purchasing power</p> Signup and view all the answers

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