8.2 Resource Use in Society

Question 1

Natural Capital

Answer 1

The natural resources and environmental features in a given area, regarded as having economic value or providing a service to humankind.

Question 2

Natural Income

Answer 2

The additional goods and services that ecosystems provide over a set period, above and beyond what is considered the baseline or natural capital.

Question 3

Sustainability

Answer 3

The use and management of resources that allows full natural replacement of the resources exploited and full recovery of the ecosystems affected by their extraction and use.

Question 4

Ecosystem Service

Answer 4

A benefit that humans receive from the natural environment, such as clean air, water purification, pollination of crops, or climate regulation, which support human well-being and economic activity

Question 5

Yield

Answer 5

The output produced over a period of time.
In terms of natural capital, it is the portion of the natural income harvested each year.

Question 6

Tragedy of the Commons

Answer 6

Individuals, acting in their own self-interest, overuse and deplete shared resources, leading to negative consequences for the entire group.

Examples: A fish pond, The Lorax, Easter Island