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Scarcity rent is one of two costs the extraction of a finite resource imposes on society. The other is marginal extraction cost--the opportunity cost of resources employed in the extraction activity. Scarcity rent is the cost of "using up" a finite resource because benefits of the extracted resource are unavailable to future generations.
In biology and ecology, a resource is a substance or object in the environment required by an organism for normal growth, maintenance, and reproduction. Resources can be consumed by one organism and, as a result, become unavailable to another organism. [1] [2] [3] For plants key resources are light, nutrients, water, and space to
Also in 2016, Quizlet launched "Quizlet Live", a real-time online matching game where teams compete to answer all 12 questions correctly without an incorrect answer along the way. [15] In 2017, Quizlet created a premium offering called "Quizlet Go" (later renamed "Quizlet Plus"), with additional features available for paid subscribers.
Consumer–resource interactions are the core motif of ecological food chains or food webs, [1] and are an umbrella term for a variety of more specialized types of biological species interactions including prey-predator (see predation), host-parasite (see parasitism), plant-herbivore and victim-exploiter systems. These kinds of interactions ...
Hotelling's rule defines the net price path as a function of time while maximizing economic rent in the time of fully extracting a non-renewable natural resource.The maximum rent is also known as Hotelling rent or scarcity rent and is the maximum rent that could be obtained while emptying the stock resource.
where N j is the density of species j, R is the density of the resource, a is the rate at which species j eats the resource, d is species js death rate, and r is the rate at which resources grow when not consumed. It is easy to show that when species j is at equilibrium by itself (i.e., dN j /dt = 0), that the equilibrium resource density, R* j, is
In economics, a price mechanism refers to the way in which price determines the allocation of resources and influences the quantity supplied and the quantity demanded of goods and services. The price mechanism, part of a market system , functions in various ways to match up buyers and sellers: as an incentive, a signal, and a rationing system ...
Whether above-ground or below-ground resources are more limiting can have major effects on the structure and diversity of ecological communities; in mixed beech stands, for example, size-asymmetric competition for light is a stronger predictor of growth compared with competition for soil resources.