Lecture Economics (19/e) - Chapter 15: Natural resource and energy economics

After studying this chapter you will be able to understand: Explain why falling birthrates mean that we are not likely to run out of natural resources, describe why using a mix of energy sources is efficient, even if some of them are quite costly, discuss why running out of oil would not mean running out of energy, show how the profit motive can encourage resource conservation, relate how to use property rights to prevent deforestation and species extinction. 15 Natural Resource and Energy Econo

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15 Natural Resource and Energy Economics McGrawHill/Irwin Copyright © 2012 by The McGrawHill Companies, Inc. All rights reserved. Resource Supplies: Doom or Boom? • Population increased from 1 billion people in 1800 to about 6.8 billion today • Standard of living is 12 times higher • Consumption of resources is much higher LO1 15-2 Population Growth • Thomas Malthus’s (1798) predictions • Replacement rate • Total fertility • Modernization • Death rates fall • Fertility rate falls below replacement rate LO1 15-3 Resource Consumption Per Person • Increasing commodity demand • Population growth • Rising consumption per person • Commodity supply has risen faster than demand • Commodity prices are falling LO1 15-4 Resource Consumption Per Person • Will resource supplies be sustainable in the future? • Prospects are hopeful • Demand for resources will reach a peak and decline with falling birthrates • Resource consumption per capita leveled off or is decreasing LO1 15-5 ... - tailieumienphi.vn

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