State the characteristics of resource.
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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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The characteristics of resources are:
1) Utility, 2) Limited availability, 3) Potential for depletion or consumption.
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