Question

In two to three paragraphs, compare and contrast how people have historically treated natural resources and how this might change, using your new understanding of scarcity, conservation, and private property.

Answer 1

Compare and contrast how people have historically treated natural resources and how this might change, using your new understanding of scarcity, conservation, and private property.

Answer: In the past people treated natural resources as an infinite source of wealth and commodity. But now that we know that there are physical limits to nonrenewable resources we have taken a new approach to preserve this resources by taking measures like natural resource management. A great example of this would be a private property regime where the resources benefits and duties fall under the owner(s).

I hope it helps, Regards.