Asked by Horacio Nicolas on Jun 30, 2024
Verified
Nonrenewable natural resources are fixed in supply (actually or virtually).
Nonrenewable Natural Resources
Natural resources such as fossil fuels and minerals that do not replenish on a human time scale and hence are finite.
Fixed Supply
A situation where the quantity of a good or resource available does not change in response to its price.
- Grasp the critical importance of determining prices, defining property rights, and developing policies for natural resource management.
Verified Answer
ZK
Zybrea KnightJul 07, 2024
Final Answer :
True
Explanation :
Nonrenewable natural resources, such as fossil fuels and minerals, are considered fixed in supply because they cannot be replenished within a human time frame once they are depleted.
Learning Objectives
- Grasp the critical importance of determining prices, defining property rights, and developing policies for natural resource management.
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