Finite resources and sustainability
- There are only a finite/ limited number of resources
- Workers, machines, acres of land and reserves of oil and other natural resources on the earth.
- Resources are being consumed faster than the planet can replace them
- De-coupling - a process attempting to increase efficiency in allocation of resources.breaking the link between increasing demand and resource depletion.
Factors of Production
Capital Enterprise Labour Land
Infrastructure – a crucial type of capital
- They must be inexhaustible or replaceable over time.
- Rate of extraction must be less than the rate at which the resource renews itself.
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