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resources that are regenerated over time through ecological processes, such as forests and fisheries, but can be depleted through exploitation.

• Renewable Resources

• Non-renewable Resources

resources that do not regenerate through ecological processes, at least on a human time scale, such as oil, coal, and mineral ores.

• Renewable Resources

• Non-renewable Resources

Renewable Resources

• forests

• oil

• fisheries

• coal

• mineral ores

Non-Renewable Resources

• forests

• oil

• fisheries

• coal

• mineral ores

is the cost of producing or consuming one more unit of a good or service.

• Marginal Cost

• Marginal Benefit

• Hidden Cost

• Transaction Cost

is the net benefit of the consumption or production of an additional unit of a resource.

• Marginal Cost

• Marginal Benefit

• Marginal net benefit

• Net Margin

is a market equilibrium that results when only present costs and benefits are considered.

• Static Equilibrium

• Dynamic Equilibrium

• Equilibrium

• Market Equilibrium

are opportunity costs associated with the loss of future potential uses of a resource, resulting from consumption of the resource in the present.

• Transaction Cost

• Marginal cost

• User costs

• Failure Cost

is a tax imposed on the extraction or sale of a natural resource.

• Environmental Tax

• Sale Tax

• pollution tax

• Resource depletion tax

are payments to resource owners in excess of the amount necessary to keep those resources in production.

• Rent

• Scarcity rent

• Scarcity Tax

• Revenue Tax