factors that affect the supply and demand of resources

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  • distrubution- point resources which are specifcally located, are more likely to be used in the location they are found in than wider areas. diffuse resoures which are resoures that are widely spread are used in abundence as they are in greater supply.
  • accessibility- depth of a resource underground may mean it is hard to access, so there would be less of that resource as it may not be economically viable to extract. also relief of land and climate could mean a resource may be more or less accessible.
  • location- offshore/onshore, coastal/inland e.g. coastal may be easier to use as it is easier to transport the resource than inland resources.
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  • price- if the cost of extraction is less than the value it would make a resoure worth extracting, allowing for greater use. if the avalibility of a resource is high then it would be more viable to extract.
  • competition between countries- prices can fluctuate due to trade
  • global eonomic situation- demand for resources has dropped in some places and the demand is less likely to expand, so less resources are extracted.
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  • environmental awareness- some people prefer to be environmentally friendly, reducing the demand for non renewable resources
  • population demographics- populations in lower areas of development use less resources than highly developed countries. countries in the lower stages of the DTM whih have a growong population will have a increasing demand for resources, increasing the demand for supply.
  • expectation- high standard of living is expected in modern society, which demands more energy resoures to fuel that type of lifestyle
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  • intevention preventing production- embargos which prevent countries buying resources from certain other countries
  • war/conflict, dispute over territories- can reduce the amount of resoures extracted and transported
  • legislation- protection of areas of land that are environmentally sensitive to preserve the natural environment.
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