A theory proposed by Harold Hotelling states that owners of nonrenewable resources will only produce that resource if it wills the yield will have more value than other financial instruments available in the market, such as interest bearing securities and bonds. This assumes such owners are only motivated by profit and that markets are efficient. The theory is used by economists to predict the price of nonrenewable resources like oil, based on prevailing interest rates.
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Explanation:
The modernization theory explains the process of transforming from traditional society to modern society and consist of the following processes-
(1) Technological advancement - Here, the traditional knowledge is replaced with modern techniques and scientific information proves the things.
(2) Development of agriculture - Since agriculture provides major source for advancement, new machines are brought in use that will increase the productivity to gain more benefits. There will a change from subsistence type of farming into modern farming with modern tools and technology
(3) Urbanization - due to uncontrolled migration from rural to urban, there is increase in the rate of urbanization
(4) Industrialization - Now human are replaced with machines
(5) Telecommunication - it includes digitalization the economy, better news broadcasting, entertainment etc.
All these processes have similarities and differences since they are all interrelated. Similarity is that all these processes lead to increase in profit that would further help in increasing per capita income and thus more productivity and better development. You can take an example of US economy which is highly advanced and has all these sub processes going on there .
The correct answer is - 5) At a normal fault, tensional stress causes the hanging wall block to move downward with respect to the foot wall block. Conversely, at a reverse fault, compressional stress causes the hanging wall block to move upward with respect to the foot wall block.
Both the normal faults and the reverse faults are dip-slip faults, meaning that they experience vertical movement which is inline with the dip of the fault. Both of them can be identified by the relative movement of their hanging walls and foot wall.
The normal faults have a hanging wall that is moving downwards relative to the foot wall. This kind of movement is caused by extensional tectonics, or rather by tensional stress. The faulted section of the rocks is lengthened because of this type of processes.
The reverse faults have a hanging wall that moves upward relative to the foot wall, thus the total opposite of the normal fault. This kind of movement is caused by the compressional tectonics. The faulted section of the rocks shortens under this type of processes.
Answer: A. Earth's rotation
