Chapter 28: Problem 1

What relationship between supply rate and consumption rate must exist for the consumption of a resource to be sustainable?

Short Answer

Expert verified

Answer: The consumption of a resource is considered sustainable when C ≤ S, where C is the consumption rate and S is the supply rate. This means that the consumption rate should be less than or equal to the supply rate to ensure the resource's sustainability for future generations.

Step by step solution

Define Supply Rate

Supply rate refers to the rate at which a resource is replenished or produced. In this scenario, it is the amount of the resource that becomes available for consumption per unit of time.

Define Consumption Rate

Consumption rate refers to the rate at which a resource is consumed or used up. In this scenario, it is the amount of the resource that is used per unit of time.

Determine Resource Sustainability

For the consumption of a resource to be sustainable, it must be used at a rate that does not exceed its replenishment rate. In other words, the consumption rate should be less than or equal to the supply rate.

Formulate the Relationship between Supply Rate and Consumption Rate

Based on the above understanding, the relationship between supply rate (S) and consumption rate (C) for a resource's consumption to be sustainable can be explained as follows: C ≤ S Where: C = Consumption Rate S = Supply Rate This relationship implies that consumption should be less than or equal to the supply of a resource to maintain its sustainability in the long run.

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What relationship between supply rate and consumption rate must exist for the consumption of a resource to be sustainable?

Short Answer

Step by step solution

Define Supply Rate

Define Consumption Rate

Determine Resource Sustainability

Formulate the Relationship between Supply Rate and Consumption Rate

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