What are key factors that determine the price of a resource? Provide some specific examples.© BrainMass Inc. brainmass.com October 9, 2019, 11:19 pm ad1c9bdddf
If we are speaking of natural resources the price of it is determined by supply and demand factors. At the supply side, what is relevant is the amount of resource available, the ability (or difficulty) to extract it from the natural environment (that is, the cost of exploiting the resource), the cost of labour and the number of firms in the ...
The key factors that determine the price of a resource are determined. Provide some specific examples.