<p>Some examples you might consider:</p>

<ol>
<li>Fine art when the artist dies (this doesn't reduce the number of works by that artist, but does reduce the number of works that can be expected to exist in the future)</li>
<li>The electromagnetic spectrum - there are a bunch of interesting resources concerning auctions for space on the spectrum</li>
<li>Short .com domain names</li>
</ol>

CC BY-SA 4.0
2019-02-15T19:42:46.050Z
2019-02-15T19:42:46.050Z
NickCHK
<p>I'm interested in the elasticity price demand that predicts that as a resource becomes more scarce, it gets more expensive. </p>

<p>Regarding oil price this isn't clear. Is there an example of a resource that has nearly disappeared ? What was the evolution of its price ?</p>

CC BY-SA 4.0
2019-02-15T20:53:02.857Z
I don't have a resource that shows the detailed evolution of price, but whale oil would probably be a good resource to dig into.  As the whale population was overfished (and demand increased), prices grew quite rapidly until alternatives like kerosene became price competitive and the price of whale oil plummeted.  https://io9.gizmodo.com/1846-the-year-we-hit-peak-sperm-whale-oil-5930414
Justin Cave
CC BY-SA 4.0
2019-03-18T16:30:45.573Z
Scarce is a philosophy relative term to human value.
mootmoot
<elasticity><price><resource-economics><nonrenewable-resources>
What's an example of a resource, raw material that has become scarce?
Paul Boosz
# What's an example of a resource, raw material that has become scarce?

(Asked by: username_0 on 2019-02-13)

I'm interested in the elasticity price demand that predicts that as a resource becomes more scarce, it gets more expensive.

Regarding oil price this isn't clear. Is there an example of a resource that has nearly disappeared ? What was the evolution of its price ?

**Tags:** elasticity, price, resource-economics, nonrenewable-resources
> **Comments:**
> **username_1**: I don't have a resource that shows the detailed evolution of price, but whale oil would probably be a good resource to dig into.  As the whale population was overfished (and demand increased), prices grew quite rapidly until alternatives like kerosene became price competitive and the price of whale oil plummeted.  https://io9.gizmodo.com/1846-the-year-we-hit-peak-sperm-whale-oil-5930414  
> **username_2**: Scarce is a philosophy relative term to human value.  

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## 1 answers

### Answer by username_3 on 2019-02-15. Score: 2

Some examples you might consider:

1. Fine art when the artist dies (this doesn't reduce the number of works by that artist, but does reduce the number of works that can be expected to exist in the future)
2. The electromagnetic spectrum - there are a bunch of interesting resources concerning auctions for space on the spectrum
3. Short .com domain names


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