View Natural Resource Economics Definition UK. Natural resource economics focuses on the supply, demand, and allocation of the earth's natural resources to create a more efficient economy. Natural resource economics deals with the supply, demand, and allocation of the earth's natural resources.
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If one agent uses/consumes a natural resource it becomes unavailable for other agents.
The two main ways natural resources are categorized are biotic/abiotic and renewable/nonrenewable. Successful stewardship of the land entails understanding the complex interrelationships between environmental and market forces. Learn vocabulary, terms and more with flashcards, games and other study tools. Describes and analyzes problems and policy issues of energy, nonenergy minerals, forestry, fisheries, water resources, and preserved natural environments.