Final answer:
The category of long-lived assets that are depleted over time is natural resources, including finite goods like fossil fuels and minerals.
Step-by-step explanation:
A category of long-lived assets that are depleted over time is referred to as natural resources. These are represented by tangible goods such as fossil fuels, minerals, and forests, which businesses extract and sell, but which can decrease in quantity if their extraction rate exceeds their natural replenishment or if they are non-renewable. In economics, natural resources that are mined or harvested are eventually depleted, and this depletion is a critical concern, especially for sustainable development.
The rule of 70, a concept often used to estimate the doubling time of an investment, can also apply to resources indicating that a finite resource should not be used at a rate that would halve its amount in less than 10,000 years to be considered sustainable.