Meaning – The term ‘limited resource’, refers to a connection facility that causes a session traversing it to be terminated if no session activity is detected for a specified period of time.
It means that the economy has only so many resources that can be used at any given time to produce goods and services. Limited resources are one-half of the fundamental problem of scarcity that has plagued humanity since the beginning of time. The other half of the scarcity problem is unlimited wants and needs.
Having limited resources today, however, does not mean that they are fixed for all time. The economy can make the quantities of the resources less limited. The two key terms to note here are economic growth and investment.
Example of usage – “The existence of limited resources has a very important implication. At any given point in time, the quantity of goods and services that the economy can produce is also limited.”