An economy similar to that which was prevalent at the "frontier" of European settlement in North America in the eighteenth and nineteenth centuries. A frontier economy is characterized by relative scarcities (and high prices) of capital equipment and skilled labor, and by a relative abundance (and low prices) of natural resources . Because of these factors, producers will look to utilize natural resources instead of capital and skilled labor whenever possible. For example, a sawmill might use a blade that creates large amounts of wood waste since the cost of extra logs is less than the cost of a better blade. The long-term environmental effects of high natural resource use and pollution from wastes are ignored since they seem insignificant compared to the vastness of the natural resource base.
A frontier economy is sometimes contrasted with a spaceship economy, in which resources are seen as strictly limited and need to be endlessly recycled from waste products.
"Frontier Economy." Environmental Encyclopedia. . Encyclopedia.com. (January 19, 2019). https://www.encyclopedia.com/environment/encyclopedias-almanacs-transcripts-and-maps/frontier-economy
"Frontier Economy." Environmental Encyclopedia. . Retrieved January 19, 2019 from Encyclopedia.com: https://www.encyclopedia.com/environment/encyclopedias-almanacs-transcripts-and-maps/frontier-economy
Encyclopedia.com gives you the ability to cite reference entries and articles according to common styles from the Modern Language Association (MLA), The Chicago Manual of Style, and the American Psychological Association (APA).
Within the “Cite this article” tool, pick a style to see how all available information looks when formatted according to that style. Then, copy and paste the text into your bibliography or works cited list.
Because each style has its own formatting nuances that evolve over time and not all information is available for every reference entry or article, Encyclopedia.com cannot guarantee each citation it generates. Therefore, it’s best to use Encyclopedia.com citations as a starting point before checking the style against your school or publication’s requirements and the most-recent information available at these sites:
Modern Language Association
The Chicago Manual of Style
American Psychological Association
- Most online reference entries and articles do not have page numbers. Therefore, that information is unavailable for most Encyclopedia.com content. However, the date of retrieval is often important. Refer to each style’s convention regarding the best way to format page numbers and retrieval dates.
- In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list.