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Nonrenewable resources those in limited supply. A prime example of this is crude oil (fossil fuels). Renewable resources, by contrast, can be replenished, or are in abundant supply (such as wind, solar energy, etc.).
Supply and Demand
Scarcity exists because we have unlimited wants and only a limited supply of resources to produce goods and services that satisfy our wants
Scarcity
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when the supply fund resources is permanent it is called flow resources. on other hand fund resources are those which are fdixed and limited in the quanity
limited in supply.
Nonrenewable resources those in limited supply. A prime example of this is crude oil (fossil fuels). Renewable resources, by contrast, can be replenished, or are in abundant supply (such as wind, solar energy, etc.).
Energy sources that are in limited supply are resources include electricity. This is because it hard to create and harvest electricity.
there is a limited supply
economics
Supply and Demand
Scarcity exists because we have unlimited wants and only a limited supply of resources to produce goods and services that satisfy our wants
is the name given to the organized decisions of distributing limited resources among unlimited needs and wants
because they are limited resources.
Limited resources are restricted or scarce supply of sources used to create products. This can include inadequate labor or raw materials to produce goods.
the most commonly known energy source that is nonrenewable (which means it cant be replaced) is called Fossil Fuels, the reason it cannot be replaced is because they take millions of years to form.