what are some possible effects of increasing demand and decreasing supplyof a nonrenewable resource?

Answer 1

To begin with, the price would go up. Eventually though, there would be an actual shortage of it, and then the price would skyrocket. If it were something that the whole world depended on, it would get really ugly towards the end of the supply, even the possibility of war. Otherwise, it would probably go under government regulation so that what was left (by the time we realized that it was running out), would be rationed to last as long as possible. At the same time, scientists would be working on synthetic substitutes for it. Also they would explore alternate natural resources that could replace it functionally.

Answer 2

The price would go up. I can't think of any resource though which cannot be used more economically and/or recycled and the vast majority also have possible alternatives which come into play if the price rises too much. Decreasing supply accompanied by prolonged major increase in price is also a rare phenomenon.

Answer 3

Potential Positives:
increase of sales on hybrid technology, higher demand for enviromental experts, advent of new technologies (solar stoves and tree bark houses), lessing the dependence on nonrenewable energies causing a slowing trend in global warming

Although more likely:
Escalating prices on "nonrenewable sources" will filter into the entire economy causing inflation and potential economic melt down. Wars will be waged to control lands containing nonrenewable source, then, more wars to control lands with renewable sources of energy (e.g. moving water and high wind-because not all lands can accomadate renewable energy). Due to lack of power (or fear of running out) the government will institute rolling blackouts, and other such measures allowing expansive authority to the politicians, whom could potentially abuse the authority, causing our country to turn into a dictatorship due to the distress of the people whose basic needs are not met. This will cause undue panic on the streets, stampeeds on gas stations, runs on supermarkets, and the deaths of millions due to the onset of unplanned choas.

Best of luck.

Answer 4

The supply is going to be depleted since it is nonrenewable.

Answer 5

Higher consumer prices, shortage of that resource...

Answer 6

Price gouging, bootlegging, black marketting, organized crime getting in on it, higher prices, inflation, lower quality products, etc.

Answer 7

war

Answer 8

It will be exhausted!