Jevons paradox
jevons-paradox-1753086361135-052b7b
Description
In economics, the Jevons paradox occurs when technological advancements make a resource more efficient to use ; however, as the cost of using the resource drops, if demand is highly price elastic, this results in overall demand increasing, causing total resource consumption to rise. Governments have typically expected efficiency gains to lower resource consumption, rather than anticipating possible increases due to the Jevons paradox.
ID: jevons-paradox-1753086361135-052b7b
