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Resources are very scarce around the United States. Identify one scarce resource and analyze the impact...

Resources are very scarce around the United States. Identify one scarce resource and analyze the impact of the scarcity of that resource on an economy. What is one solution that the government can provide to ensure that the scarcity will not be impacted as much?

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Answer #1

There is a growing demand for electric and solar vehicles and also products that use these as energy resources. They work on batteries made up largely from lithium. Lithium batteries are way more efficient than lead acid batteries.

Mobile phones and other battery operated instruments also has high demand for lithium. USA does not have enough working resources. From 2014 to 2018 the imports have doubled to around 4000 metric tons of lithium.

Solution to this is identify mines and start working immediately to reduce import bill. Alternative finding like magnesium, mercury and zinc. Like USA did for crude oil, finding cost effective way of mining lithium is also a solution.

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