Describe the natural resources that are used in its production, including their origin, their price, and their significance in the price of the final product. Choose one of the natural resource inputs that is used in the production of your final consumer product. For the chosen natural resource: -describe current conditions in the market for the resource, including price, recent changes in price, US and world reserves -identify the factors that have influenced recent changes in the price -identify the potential implications of current economic conditions and public policies -describe income sources – wages, profit derived and compare to national averages -describe how changes in the price impact households, businesses and different groups in the economy
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