Nonrenewable resources those in limited supply. A prime example of this is crude oil (fossil fuels). Renewable resources, by contrast, can be replenished, or are in abundant supply (such as wind, solar energy, etc.).
Producers typically are not concerned with demand. Producers however are concerned with supply because they are responsible for the supply.
producers will supply as the good price Producers will supply more of a product as the price goes up. A+
Producers cannot make enough of a good when that good becomes popular suddenly. Scarce Natural Resources make it more difficult for producers to keep up with demand.Scarce natural resources make it more difficult for producers to keep up with demand.A new technology allows producers to increase supply very quickly.
Supply goes up, so competition rises - and prices should go down, unless demand increases comeasurately.
Nonrenewable resources those in limited supply. A prime example of this is crude oil (fossil fuels). Renewable resources, by contrast, can be replenished, or are in abundant supply (such as wind, solar energy, etc.).
In a Forest Food Chain,insects and small herbivores feed on the abundant supply of plants(producers).
The Louisiana Purchase in 1803 greatly increased America's supply of natural resources, as it doubled the size of the country and provided access to abundant land, minerals, and water resources.
Producers typically are not concerned with demand. Producers however are concerned with supply because they are responsible for the supply.
Prices in a market economy convey information about supply and demand conditions. When a product becomes scarcer, its price tends to rise, signaling to producers to increase production. Conversely, when a product becomes abundant, its price tends to fall, signaling to producers to reduce production. In this way, prices serve as a mechanism for allocating resources efficiently in an economy.
The synonym of abundant is plenty! EX: There was an abundant supply of water. There was a plenty supply of water.
producers will supply as the good price Producers will supply more of a product as the price goes up. A+
The US has abundant supply of natural gas, as it is one of the largest producers of natural gas in the world, thanks to advancements in shale gas extraction techniques. Additionally, the US also has significant coal reserves, although its use is declining due to environmental concerns.
Producers cannot make enough of a good when that good becomes popular suddenly. Scarce Natural Resources make it more difficult for producers to keep up with demand.Scarce natural resources make it more difficult for producers to keep up with demand.A new technology allows producers to increase supply very quickly.
The lumber supply in a forest is abundant.
Having abundant energy resources is important to ensure a stable and reliable energy supply for powering homes, industries, and transportation. It also helps promote economic development, create jobs, and support technological advancements. Additionally, abundant energy resources can reduce dependency on fossil fuels and contribute to reducing greenhouse gas emissions and combating climate change.
Producers cannot make enough of a good when that good becomes popular suddenly. Scarce Natural Resources make it more difficult for producers to keep up with demand.Scarce natural resources make it more difficult for producers to keep up with demand.A new technology allows producers to increase supply very quickly.