What concept refers to the ability of future generations to earn an income while using resources efficiently for economic growth?

The concept that refers to the capability of future generations to earn an income while utilizing resources efficiently for economic growth is economic sustainability. This principle emphasizes the importance of managing resources in a way that meets the needs of the present without compromising the ability of future generations to meet their own needs. Economic sustainability encompasses the responsible use of resources, ensuring that they are not depleted or degraded over time, thus allowing for ongoing income generation and economic development.

In the context of this concept, efficient resource use includes practices that optimize the allocation of resources, promote renewable energy, and support sustainable business practices, which all help create a stable and productive economic environment for future generations. By focusing on long-term resource management, economic sustainability ensures that economic growth can be maintained over time, benefiting both current and future societies.