Economics does work that. The amount of resources are limited by: a. Quantity of raw materials available for use b. Skill (labor and/or machines) to convert tho

Economics does work that. The amount of resources are limited by: a. Quantity of raw materials available for use b. Skill (labor and/or machines) to convert those raw materials into something useful. So while America had a lot of a and b, the rest of the world is having that now too. So America has lesser of a and b as a proportion of total a an b