8.2 - RESOURCE USE IN SOCIETY

Question 1

What is natural capital?

Answer 1

The world’s stock of natural resources

Question 2

Types of natural capital

Answer 2

economic (have monetary value), aesthetic (beauty appreciation), cultural/spiritual, environmental (essential to humans), intrinsic (right to exist), social (places to socialize), technological (used for technology, not static values).

Question 3

Renewable vs non-renewable natural capital

Answer 3

Renewable capital can be replaced as fast as it is used. Non-renewable capital cannot.

Question 4

Explain tragedy of the commons

Answer 4

Individuals will act according to their own self-interest, disregarding the interests of a group or the long-term consequences.