5. Define natural resources and give examples of renewable and nonrenewable resources.
Natural resources is both structures and processes that humans have access to, they cannot create
Examples of renewable resources: soil, vegetation, animals, water
Examples of nonrenewable resources: are iron ore, fossil fuels, landscapes
6. Describe how the supply of a good or service and the demand for it interact to determine
the price.
If supply of product is high, demand is low, the price will decrease.
7. Define and give examples of ecosystem services.
Ecosystem service: effects that benefit and function for people and society
Examples: pollination, forest regrowth, hydropower, cleaning water, air, waste decomposing,
recreational use
8.Give environmental examples of deferred costs, external costs, and opportunity costs.
Examples of deferred costs: dam built on Colorado river for electric power and irrigation,
planners did not think about impact on river flow and natural species that flourish and soil
erosion
Examples of external cost: logging removes ample trees, runoff destroys streams, mudslide, cost
is put on public
