2 Beyond the Issue of Scarcity Flashcards
raw materials in manufacturing
natural resources
land, forest, water, energy minerals
natural resources
2 types of land used for residential, commercial, industrial, agricultural purposes
alienable land, disposable land
covered by forests, main activity is logging
forest land
solar energy, hydro energy, wind energy, coal, geothermal energy, nuclear energy
natural resources
gathering, processing, utilizing raw/natural resources
capital resources
machinery, equipment, vehicles, factories
capital resources
depreciates over time
capital resources
producing goods
productive
used repeatedly for a long period of time
fixed
used for specific purpose/activity
special
what people contribute to the economy
human resources
study of statistics like births, deaths, age, gender, income, incidence of disease, showing changing structure of the human population
demography
people living in certain place
population
measurement of population per unit area
population density
limited resources
scarcity
always existing
scarcity
can be fixed with proper distribution and allocation
scarcity
demand > supply
shortage
involving products, supplies
shortage
involving resources
scarcity
temporary imbalance
shortage
fixed by adjusting prices, supply, demand
shortage
malthusian theory of population
proposes that population growth will always outpace supply of resources