(1) The Introduction:
What is the Consumption Elasticity of the Conservation? What is the Consumption Elasticity of Depletion? What is the Consumption- Inelastic Conservation? What is the Consumption Elastic Conservation? What is the Unit Elastic Conservation? What is the Law of the Diminishing Availability of the Resources? What is the Law of the Diminishing Conservation of the Resources?
(2) The Exposition:
1. The Consumption Elasticity of the Conservation:
It is a measure of the extent to which the quantity conserved responds to a consumption change. The elasticity coefficient (consumption elasticity of conservation E) is the percentage change in the quantity conserved divided by the percentage change in the consumption. In figuring out the percentages, we must use the averages of the old and the new quantities in the numerator and of the old and the new consumption levels in the dominator disregarding the minus sign.
2. The Consumption Elasticity of Depletion:
Conceptually similar to the consumption elasticity of the conservation except that it measures the depletion responsiveness to a consumption change. More precisely, the consumption elasticity of the depletion measures the percentage change in the quantity depleted divided by the percentage change in the consumption.
3. The Consumption- Inelastic Conservation (or inelastic conservation):
It is the situation in which the consumption elasticity of the conservation is below 1 in absolute value. In this case, when the consumption declines, the total resource loss declines, and when the consumption is increased, the total resource loss goes up. Perfectly inelastic conservation means that there is no change at all in the quantity conserved when the consumption goes up or down.
4. The Consumption Elastic Conservation:
It is the situation in which the consumption elasticity of conservation exceeds 1 in absolute value. This signifies that the percentage change in the quantity conserved is greater than the percentage change in the consumption. In addition, the elastic consumption implies that the total resource gain (consumption times quantity) rises when the consumption falls, because the increase in the quantity conserved is so large.
5. The Unit Elastic Conservation:
It is the situation between the consumption-elastic conservation and the consumption inelastic conservation, in which consumption elasticity is just equal to 1 in absolute value.
6. The Law of the Diminishing Availability of the Resources:
As more and more quantities of a resource are consumed, Its total availability declines.
7. The Law of the Diminishing Conservation of the Resources:It is a law stating that the additional conservation from the successive increases of the technological efficiency will eventually diminish when the other efficiencies are held constant.
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