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The resource curse, also known as the paradox of plenty or the poverty paradox, is the hypothesis that countries with an abundance of natural resources (such as fossil fuels and certain minerals) have lower economic growth, lower rates of democracy, or poorer development outcomes than countries with fewer natural resources. [1]
Because productive resources are scarce, the resources must be allocated to various industries in just the right amounts, otherwise too much or too little output gets produced. [2] When drawing diagrams for businesses , allocative efficiency is satisfied if output is produced at the point where marginal cost is equal to average revenue.
The United Nations Development Programme says economic water scarcity is the most common cause of water scarcity. This is because most countries or regions have enough water to meet household, industrial, agricultural, and environmental needs. But they lack the means to provide it in an accessible manner. [23]
At the same time, the pace of change has brought mixed results. China faces serious natural resource shortages and environmental problems. As people live in different areas, the differences between types grow. [2] In the past decade or so, China's Gini coefficient [3] has generally been fluctuating and
Overpopulation and inequitable resource allocation can make resource scarcity even more pronounced, creating a cyclical instability in the society. [10] Conversely, countries with natural resource abundance are impacted in a different way.
To get the water, they have to travel and make agreements with countries that have water resources. In some countries, political groups hold necessary resources hostage for concessions or money. [21] Supply-induced and structural scarcity demands for resources cause the most conflict for a country. [21]
While most years China's agricultural production is sufficient to feed the country, in down years, China has to import grain. Due to the shortage of available farm land and an abundance of labor, it might make more sense to import land-extensive crops (such as wheat and rice) and to save China's scarce cropland for high-value export products ...
In 2004 the World Bank warned that the scarcity of the resource would lead to "a fight between rural interests, urban interests and industrial interests on who gets water in China." [24] The head of China's national development agency said in 2007 that one quarter the length of China's seven main rivers were so poisoned the water harmed the ...