NEW APPROACHES TO THE MANAGEMENT OF NATURAL RESOURCES (2): THE MARKET

Marius Bulearcă and Catalin Popescu

Annals - Economy Series, 2020, vol. 1, 48-54

Abstract: Natural resources are not homogeneous in nature, therefore economic analysis of extractive industry fundamentally differs compared to agriculture, manufacture and services analysis. The main reason is that mineral resources are exhaustible resources; hence, in the mining industry an initial stock of reserves will exhaust over time. Therefore, this paper analysis the natural resource market according to several criteria: requirements of economic growth, future potential of environmental factors, scientific and technological progress and demographic change. Hence, this work deals with issues related to the limited character and scarcity of natural resources (supply) in relation to the development of demand (in the first part), and the mechanisms and economic laws that describe the supply-demand ratio of natural resources determined by economic and social factors (in the second part).

Keywords: mining industry; models; natural resources market; scarcity; property rights regime; cartel (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2020:v:1:p:48-54

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