Question

Explain two feature of a resource

Answer 1

Answer:

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Resources characteristics: Resources have three main characteristics namely 1) Utility, 2) Limited availability, 3) Potential for depletion or consumption. Scarcity is the fundamental economic problem of having humans who have unlimited wants and needs in a world of limited resources.

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Answer 2

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Resource characteristics.

1. Two characteristics of outputs are important in creating incentives for how a resource is managed.

2. The first characteristic is the feasibility of exclusion and the second characteristic is the nature of consumption.

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