Resource limitation in plants - an economic analogy.

Abstract

A number of parallels are shown between economic theory and plant resource usage. An outline of economic theory leads to 5 predictions concerning plant processes. Resource acquisition, storage, growth, resource loss and sexual reproduction are considered in the light of these predictions. Plants adjust phenology and life history patterns to acquire resources when they are cheap, store these internally and utilise them when conditions are favourable for growth. Plants continue to produce leaves (and perhaps roots) only until the marginal revenue from this increased production is equal to the marginal cost. Plants adjust allocation so that their limitation of growth is more nearly equal for all resources. Plants adjust physiologically to changes in resource availability to reduce extreme exchange ratios; the balance of internal reserves within the plant thereby approaches the proportions that are optimal for growth of most plants.-P.J.Jarvis