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How does the approach of someone who has adopted the precautionary principle differ from someone with a blind faith in substitutability, when it comes to a non-renewable resource like fossil fuels?
Someone with a blind faith in substitutability will think that the depletion of a non-renewable resource like fossil fuels is not such a serious problem, as they have faith that in the future other resources can cheaply be substituted for it. Whereas someone who has adopted the precautionary principle will think that we should err on the cautions side and not simply suppose that other resources can be cheaply substituted for the non-renewable resource
Low standards of living: In developing nations general standards of living tend to be very low for the vast majority of the people. These low standards of living are manifest
Analyse the strengths and weaknesses of GDP as a measurement. Answer Strengths of GDP as a measurement 1) It helps in making international comparison among different
What is Hicksian demand function? Hicksian Demand Function: The solution of expenditure function that is the function of (p, u) is denoted by h(p, u) and termed as the Hicks
Ask question what is frugal economy
what is the example of this law
The prevention of major swings in economic activity can be handled most easily by the: A. Household sector B. business sector C. financial sector D. government sector why?
Health and Life Expectancy: In addition to struggling on low income, many people in the developing nations fight a constant battle against malnutrition, disease and ill healt
The drawbacks of a mixed economy actually depend on how "mixed" it is. For instance, if it is mixed more towards a free-market, there is little regulation (some may see this as a g
bain''s model of limit pricing with diagram
Disposable Personal Income The amount of cash remaining after taxes are removed that an individual has the opportunity to spend.
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