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question 68

Essay

Find .

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Definitions:

Natural Resources

All gifts of nature used to produce goods and services; includes renewable and exhaustible resources.

Gifts of Nature

Natural resources and environmental conditions that are available for human use without the need to modify them significantly.

Scarcity

A fundamental economic problem of having seemingly unlimited human wants in a world with limited resources, making rationing necessary.

Goods and Services

Goods and services constitute the output of an economy's production activities; goods are tangible products, while services are intangible benefits or functions sold to consumers.