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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
Q. What do you meant by Deficit? Deficit: When a business, government or household spends more in a given period of time than they generate in income, they suffer a deficit. A
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Define injections and withdrawals. "The inflows in circular flow of income are known as injections". Investment, government spending and exports are there in injections "The
If the Bank of England wanted to discourage investment spending and reduce aggregate demand, it could?
I need help on MCQs on international trade and imperfect competetion
Economic Cycle The economic cycle is the long-standing sample of alternating times of economic growth (expansion) and decline (recession), followed by changing economic indica
What is meant by the multifaceted nature of the U.S. health care system? How is health care financed in the U.S.? What is the advantage and disadvantage of the U.S. multi-payer sys
With current technology, suppose a firm is producing 400 loaves of bread daily. Assume that the least cost combination of resources in producing those loaves is $180 ( 5 units of
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