Resources and Scarcity Flashcards
1
Q
allocate
A
to distribute things among people who need or want them
2
Q
nonrenewable resource
A
a resource that, once used, is no longer available
3
Q
renewable resource
A
a resource that can be replenished after it is used
4
Q
scarcity
A
the idea that resources are limited and insufficient to meet unlimited wants and needs
5
Q
value
A
the worth of an item in consideration with goods, services, or money
6
Q
resource
A
things people use to make or provide goods and services
7
Q
capital
A
money, machinery, and equipment used to make products
