Question

"allocate: to distribute something among those who need or want it

nonrenewable resource: a resource that, once used, is no longer available
renewable resource: a resource that can be replenished after use
scarcity: the idea that all resources are limited and insufficient to meet unlimited wants and needs
value: the worth of an item in consideration with goods, services, or money"

Answer 1

Scarcity is the idea that resources are limited and insufficient to meet unlimited wants and needs. Resource allocation refers to how these resources are distributed for the maximum benefit of society. Examples include renewable and nonrenewable resources and understanding their management is important for societies.

Step-by-step explanation:

Scarcity is the idea that resources are limited and insufficient to meet unlimited wants and needs. This means that decisions must be made about how to best allocate, or distribute, these resources for the maximum benefit of society. Examples of resources include renewable resources, like trees and solar energy, which can be replenished after use, and nonrenewable resources, like fossil fuels, which exist in a fixed amount and cannot be easily replaced. Resource allocation is a key concept in understanding how societies manage their limited resources.