reese social studies – Flashcards

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Optimal Production in Long Run
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y*(w,p) = 0 if P < P(-) AND y*(w,p) = y*(SR) if P > P(-) where P(-) is intersection of ATC and MC
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tributary
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any river that runs into another larger river
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source
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the area where a river begins
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transportation
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the moving of goods or people from one place to another
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bay
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a place that is part of an ocean or lake, that cuts deeply into the coast or shore.
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harbor
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a sheltered place where ships can dock.
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coast
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the placed that is next to an ocean or a big lake.
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natural resources
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the resources that are found in the environment.
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population
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the number of people in a place or area.
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environment
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the place where people, animals, and plants live.
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conservation
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the careful use of a natural resource.
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renewable resource
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a resource that can be replaced.
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economy
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the way a country or other place uses or produces natural resources , goods and services.
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