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Assessing the Impact of Natural Resources on Economic Expansion
November 17, 2023
How does natural resource abundance or scarcity affect economic growth?
Natural resource abundance or scarcity can significantly impact economic growth. While resource-rich countries may experience initial economic booms, over-reliance or mismanagement of resources can lead to economic volatility, resource depletion, and unequal wealth distribution. Resource scarcity can drive innovation but may also pose challenges, necessitating diverse economic strategies for sustainable growth.
Tags : Natural Resources , Economic Growth , Resource Management