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outline what you think would happen to a country���s economy (either our own, another or some hypothetical country) if the scarce and non-renewable resource oil was suddenly all used up throughout the world? Furthermore, taking what we���ve talked about so far, what effects do you think such a change would have on things like factors of production, PPF (diagram), economic growth, etc. and how do you think the economy could or would adapt? Include (upload) diagrams where appropriate.
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