How does the level of development in a country impact responses to resource scarcity?

Question

A: Economically developed countries don’t experience scarcity because they have lower levels of resource consumption.
B: Less economically developed countries have money to invest in technology to better utilize available resources.
C: Economically developed countries have more money to secure needed resources through trade.
D: Less economically developed countries have more money to secure needed resources through trade.

Answer 1

The most accurate statement regarding how the level of development in a country impacts responses to resource scarcity is:

C: Economically developed countries have more money to secure needed resources through trade.

Economically developed countries typically have greater financial resources, infrastructure, and technology, which enable them to invest in securing resources from other places, improving efficiency, and employing strategies to mitigate resource scarcity. In contrast, less economically developed countries may face greater challenges in accessing resources and may struggle to invest in the necessary technologies or trade opportunities, which can exacerbate issues related to resource scarcity.

Here’s a brief explanation of why the other options are less accurate:

A: Economically developed countries may experience lower levels of per capita resource consumption, but they often consume a larger total amount of resources and can face their own types of scarcity issues.

B: Less economically developed countries often lack the financial resources necessary to invest significantly in advanced technology, which would help in better utilizing available resources.

D: Less economically developed countries typically have fewer financial resources to secure needed resources through trade compared to economically developed countries.