Final answer:
Resource towns such as Fort McMurray experience rapid growth and decline known as boom and bust syndrome.
Step-by-step explanation:
Resource towns such as Fort McMurray experience rapid growth and decline known as boom and bust syndrome. This occurs when the economy of the town is heavily dependent on a single industry or resource, leading to fluctuations in population, job opportunities, and overall economic activity.
During a boom period, the town experiences rapid growth, as the demand for the resource or industry is high. This results in increased employment opportunities and economic prosperity. However, when the demand decreases or the resource becomes depleted, the town goes through a bust period. This leads to a decline in population, job losses, and economic hardships.
An example of this is Fort McMurray, which experienced a boom during the oil sands development but faced a decline when oil prices dropped in recent years.