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INC Econ Terms
INC ECON Terms
Question | Answer |
---|---|
Natural Resources | the parts of the eviorment that are useful or necessary for human survival and for all living things. We need and use Food., air and water. |
Fossil Fuels | Are another type of resources that we depend on for energy, but fossil fuels can pollute our air and water. |
petrolem | formed mostly frthe the remains of microscope marine organsims buried in earths crust. |
Non renewable | is a natural resource which cannot be reproduced, grown, generated, or used on a scale which can sustain its consumption rate, once depleted there is no more available for future needs. |
Goods | are tangible items that are made or grown and are used or consumed by people |
services | are intangible: They refer to work that a person does for someone else. |
Producers | make goods and offer services |
allocation | means ration |