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- W1608885654 abstract "Natural resouce economics is mainly concerned with the efficient use of natural resource stocks, such as mineral and energy deposits, fish stocks, forests and other land areas, air and water resources. Because of the public good nature of these stocks, and their associated service flows, the competitive market cannot be relied on to use these resources efficently. In the absence of public intervention, the consequences of inefficient resource use are all too familiar - overfishing, overcutting the forests, misuse of mineral and energy reserves, loss of environmental assets and pollution. This paper argues that the standard microeconomics tools of analysis can be used to generate static and dynamic conditions of efficient natural resource use. Hoever in modelling resource use, the various characteristics of the resource should be taken into account. Section 2 considers the role of natural resources as either final demand goods or intermediate goods, and suggests that the standard theories of demand and supply can be used to analyse the economics of natural resource use." @default.
- W1608885654 created "2016-06-24" @default.
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- W1608885654 date "1994-08-22" @default.
- W1608885654 modified "2023-09-22" @default.
- W1608885654 title "Natural resource economics: an introduction" @default.
- W1608885654 hasPublicationYear "1994" @default.
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