Explain the supply demand reversal of …
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Meghna Thapar 5 years, 4 months ago
Before the advent of industrial revolution, the rate of resource extraction was less than the rate of regeneration of these resources. But with expanding population and its growing needs the demand for resources for both production and consumption went beyond the rate of regeneration of the resources. This has resulted in a reversal of supply-demand relationship for environmental resources as now there is very high demand for environmental resources and services but their supply is limited due to overuse and misuse.
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