economics: section 3.2

• land

• raw materials

fill in the blank

the factor of natural resources includes ______ and other ____ _________

land

usually most expensive; price will vary depending on location (city, country, farmland, etc.)

• scarcity

• productivity

fill in the blank

with land, value is determined by _______ and _________

raw material

fill in the blank

land is also considered a ___ ________ because human resources can be applied to it for capital gain

minerals

precious metals with intrinsic value; some have technological or architectural value

intrinsic

fill in the blank

minerals are precious metals with _______ value; some have technological or architectural value

water

a raw material used in manufacturing goods

• animals

• plants

fill in the blank

________ and _______ produce useful meat and animal by-products as well as vegetal resources

renewable energy resources

replenish themselves in a short period of time; biomass, hydro-power , geothermal, wind, the sun, etc.

nonrenewable energy resources

cannot be replaced or take a long time to be regenerated; coal, petroleum, natural gas, nuclear power