Question

In: Economics

Differentiate between resources are not used effectively and they are not used sustainably.

Differentiate between resources are not used effectively and they are not used sustainably.

Solutions

Expert Solution

Resources are not used sustainably -

unsustainable resources means resources which we cannot continue for further period i.e resources which we cannot sustain. Unsustainably resources means running out of resources on which we depend.

For example if we take example of energy resources which are unsustainable like coal, oil, butane gas, etc we all know they will run out after period of time and we will not be able to use it further.

Hence resources are not used sustainably means resouces Are not used in such a way that it can be used efficiently and with endless amount and there is no decrease in its supply

Resources are not used effectively

Effective resources means resources should be used in a best possible way i.e it should be used only upto that amount which is required.

Hence resouces are not used effectively means that resouces are not used in desirable and ideal manner, which results in wastage of resources . If resources are used effectively it will also decrease the cost of production and will result in increase in profits.

For example - Petrol , as it is non renewable resource it should be effectively but people in traffic do not turn off their car resulting in wastage of petrol.


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