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Resource refers to all the materials available in our environment which help us to satisfy our needs and wants. Resources can broadly be classified upon their availability — they are classified into
renewable File:Global Vegetation.jpg, Global vegetation A renewable resource, also known as a flow resource, is a natural resource which will replenish to replace the portion resource depletion, depleted by usage and consumption, either through natural rep ...
and
non-renewable A non-renewable resource (also called a finite resource) is a natural resource that cannot be readily replaced by natural means at a quick enough pace to keep up with consumption. An example is carbon-based fossil fuel. The original organic matter ...
resources. They can also be classified as actual and potential on the basis of the level of development and use, on the basis of origin they can be classified as biotic and abiotic, and on the basis of their distribution, as ubiquitous and localised (private, community-owned, national and international resources). An item becomes a resource with time and developing
technology Technology ("science of craft", from Ancient Greek, Greek , ''techne'', "art, skill, cunning of hand"; and , ''wikt:-logia, -logia'') is the sum of any Art techniques and materials, techniques, skills, Scientific method, methods, and Business ...
. The benefits of resource utilization may include increased wealth, proper functioning of a system, or enhanced well-being. From a
human Humans (''Homo sapiens'') are the most populous and widespread species of primates, characterized by bipedality, opposable thumbs, hairlessness, and intelligence allowing the use of culture, language and tools. They are the only Extant taxon, ...

human
perspective, a natural resource is anything obtained from the
environment Environment most often refers to: __NOTOC__ * Natural environment, all living and non-living things occurring naturally * Biophysical environment, the physical and biological factors along with their chemical interactions that affect an organism or ...

environment
to satisfy human needs and wants.WanaGopa - Nyawakan From a broader biological or ecological perspective, a resource satisfies the needs of a living organism (see biological resource). The concept of resources has been developed across many established areas of work, in
economics Economics () is the social science that studies how people interact with value; in particular, the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. ...

economics
,
biology Biology is the natural science that studies life and living organisms, including their anatomy, physical structure, Biochemistry, chemical processes, Molecular biology, molecular interactions, Physiology, physiological mechanisms, Developmenta ...

biology
and
ecology Ecology (from el, οἶκος, "house" and el, -λογία, label=none, "study of") is the study of the relationships between living organisms, including humans, and their physical environment. Ecology considers organisms In biology ...
,
computer science Computer science deals with the theoretical foundations of information, algorithms and the architectures of its computation as well as practical techniques for their application. Computer science is the study of Algorithm, algorithmic proc ...
,
management Management (or managing) is the administration of an organization, whether it is a business, a not-for-profit, non-profit organization, or a government body. It is the art and science of managing resources. Management includes the activities o ...

management
, and
human resources Human resources is the set of people who make up the workforce of an organization An organization, or organisation (English in the Commonwealth of Nations, Commonwealth English; American and British English spelling differences#-ise, - ...

human resources
for example - linked to the concepts of
competition Competition is a rivalry A rivalry is the state of two people or groups engaging in a lasting competitive relationship. Rivalry is the "against each other" spirit between two competing sides. The relationship itself may also be called "a riv ...
,
sustainability Sustainability is the capacity to endure in a relatively ongoing way across various domains of life. In the 21st century, it refers generally to the capacity for Earth's biosphere and human civilization to co-exist. For many, sustainability is d ...

sustainability
,
conservation Conservation is the preservation or efficient use of resources, or the conservation of various quantities under physical laws. Conservation may also refer to: Environment and natural resources * Nature conservation, the protection and manageme ...
, and
stewardship Stewardship is an ethic that embodies the responsible planning and management of resources. The concepts of stewardship can be applied to the environment and nature, economics, health, property, information, theology, cultural resources etc. Histo ...

stewardship
. In application within human
society A society is a group A group is a number A number is a mathematical object used to counting, count, measurement, measure, and nominal number, label. The original examples are the natural numbers 1, 2, 3, 4, and so forth. Numbers can be ...

society
, commercial or non-commercial factors require
resource allocation In economics Economics () is the social science that studies how people interact with value; in particular, the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods an ...

resource allocation
through
resource management In organizational studies Organizational studies is "the examination of how individuals construct organizational structures, processes, and practices and how these, in turn, shape social relations and create institutions that ultimately influence p ...
.


Economic

In
economics Economics () is the social science that studies how people interact with value; in particular, the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. ...

economics
a resource is defined as a service or other asset used to produce goods and services that meet human needs and wants. Economics itself has been defined as the study of how society manages and allocates its scarce resources.
Classical economics Classical economics or classical political economy is a school of thought in economics that flourished, primarily in Kingdom of Great Britain, Britain, in the late 18th and early-to-mid 19th century. Its main thinkers are held to be Adam Smith, Je ...
recognizes three categories of resources, also referred to as
factors of production In economics Economics () is the social science that studies how people interact with value; in particular, the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods a ...
: land, labor, and capital.Samuelson, P.A. and W.D. Nordhaus. 2004. Economics, 18th ed. McGraw-Hill/Irwin, Boston, MA. . Land includes all
natural resources , Malaysia Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Se ...
and is viewed as both the site of production and the source of
raw materials A raw material, also known as a feedstock, unprocessed material, or primary commodity, is a basic material that is used to produce goods, finished Product (business), products, energy, or intermediate materials that are feedstock for future finish ...
. Labour or
human resources Human resources is the set of people who make up the workforce of an organization An organization, or organisation (English in the Commonwealth of Nations, Commonwealth English; American and British English spelling differences#-ise, - ...

human resources
consists of human effort provided in the creation of products, paid in
wage A wage is the distribution from an employer of a ''security'' (expected return or profits derived solely from others) paid to an employee. Like interest is paid out to an investor on his investments, a wage is paid (from company earnings) to th ...

wage
. Capital consists of human-made goods or means of production (machinery, buildings, and other
infrastructure Infrastructure is the set of fundamental facilities and systems that support the sustainable functionality of households and firms. Serving a country, city, or other area, including the services and facilities necessary for its economy An eco ...

infrastructure
) used in the production of other goods and services, paid in
interest In finance Finance is the study of financial institutions, financial markets and how they operate within the financial system. It is concerned with the creation and management of money and investments. Savers and investors have money availab ...

interest
.


Biological

In biology and ecology a resource is defined as a substance that is required by a living organism for normal growth,
maintenance Maintenance may refer to: Biological science * Maintenance of an organism * Maintenance respiration Non-technical maintenance * Alimony, also called ''maintenance'' in British English * Champerty and maintenance, two related legal doctrines ...
, and
reproduction Reproduction (or procreation or breeding) is the biological process Biological processes are those processes that are vital for an organism In biology, an organism (from Ancient Greek, Greek: ὀργανισμός, ''organismos'') is ...

reproduction
(see biological resource). The main essential resources for animals are food, water, and territory. For plants, key resources include sunlight, nutrients, water, and a place to grow. Resources can be consumed by an organism and, as a result, become unavailable to other organisms. Competition for resource varies from complete symmetric (all individuals receive the same amount of resources, irrespective of their size) to perfectly size symmetric (all individuals exploit the same amount of resource per unit biomass) to absolutely size-asymmetric (the largest individuals exploit all the available resource). The degree of size asymmetry has major effects on the structure and diversity of ecological communities, e.g. in plant communities size-asymmetric competition for light has stronger effects on diversity compared with competition for soil resources. The degree of size asymmetry has major effects on the structure and diversity of ecological communities.


Economic versus biological

There are three fundamental differences between economic versus ecological views: 1) the economic resource definition is human-centered (
anthropocentric Anthropocentrism (; from grc, ἄνθρωπος, ''ánthrōpos'', "human being"; and grc, κέντρον, ''kéntron'', "center") is the belief that human beings are the most important entity in the universe The universe ( la, universus) ...
) and the biological or ecological resource definition is nature-centered ( biocentric or ecocentric); 2) the economic view includes desire along with necessity, whereas the biological view is about basic biological needs; and 3) economic systems are based on markets of currency exchanged for goods and services, whereas biological systems are based on natural processes of growth, maintenance, and reproduction.


Computer resources

A computer resource is any physical or virtual component of limited availability within a
computer A computer is a machine that can be programmed to carry out sequences of arithmetic or logical operations automatically. Modern computers can perform generic sets of operations known as Computer program, programs. These programs enable compu ...

computer
or information management system. Computer resources include means for input, processing, output, communication, and storage.


Natural

Natural resources , Malaysia Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Se ...
are derived from the
environment Environment most often refers to: __NOTOC__ * Natural environment, all living and non-living things occurring naturally * Biophysical environment, the physical and biological factors along with their chemical interactions that affect an organism or ...

environment
. Many natural resources are essential for human survival, while others are used for satisfying human desire. Conservation is management of
natural resources , Malaysia Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Se ...
with the goal of
sustainability Sustainability is the capacity to endure in a relatively ongoing way across various domains of life. In the 21st century, it refers generally to the capacity for Earth's biosphere and human civilization to co-exist. For many, sustainability is d ...

sustainability
. Natural resources may be further classified in different ways. Resources can be categorized on the basis of origin: * Abiotic resources comprise non-living things (e.g.,
land Land is the solid surface of Earth that is not permanently submerged in water. Most but not all land is situated at elevations above sea level (variable over geologic time frames) and consists mainly of Earth's crust, crustal components such a ...
,
water Water (chemical formula H2O) is an inorganic, transparent, tasteless, odorless, and nearly colorless chemical substance, which is the main constituent of Earth's hydrosphere and the fluids of all known living organisms (in which it acts ...

water
,
air File:Atmosphere gas proportions.svg, Composition of Earth's atmosphere by volume, excluding water vapor. Lower pie represents trace gases that together compose about 0.043391% of the atmosphere (0.04402961% at April 2019 concentration ). Number ...

air
and
minerals In geology and mineralogy, a mineral or mineral species is, broadly speaking, a solid chemical compound with a fairly well-defined chemical composition and a specific crystal structure that occurs naturally in pure form.John P. Rafferty, ed. (20 ...

minerals
such as gold, iron, copper, silver). * Biotic resources are obtained from the
biosphere The biosphere (from Greek Greek may refer to: Greece Anything of, from, or related to Greece Greece ( el, Ελλάδα, , ), officially the Hellenic Republic, is a country located in Southeast Europe. Its population is approximately 10.7 ...
. Forests and their products, animals, birds and their products,
fish Fish are Aquatic animal, aquatic, craniate, gill-bearing animals that lack Limb (anatomy), limbs with Digit (anatomy), digits. Included in this definition are the living hagfish, lampreys, and Chondrichthyes, cartilaginous and bony fish as we ...

fish
and other marine organisms are important examples.
Minerals In geology and mineralogy, a mineral or mineral species is, broadly speaking, a solid chemical compound with a fairly well-defined chemical composition and a specific crystal structure that occurs naturally in pure form.John P. Rafferty, ed. (20 ...

Minerals
such as coal and
petroleum Petroleum (), also known as crude oil and oil, is a #Latent heat of vaporization, naturally occurring, yellowish-black liquid found in geological formations beneath the Earth, Earth's surface. It is commonly refined into various types of fuels. ...

petroleum
are sometimes included in this category because they were formed from fossilized organic matter, though over long periods of time. Natural resources are also categorized based on the stage of development: * Potential resources are known to exist and may be used in the future. For example,
petroleum Petroleum (), also known as crude oil and oil, is a #Latent heat of vaporization, naturally occurring, yellowish-black liquid found in geological formations beneath the Earth, Earth's surface. It is commonly refined into various types of fuels. ...

petroleum
may exist in many parts of India and Kuwait that have sedimentary rocks, but until the time it is actually drilled out and put into use, it remains a potential resource. * Actual resources are those that have been surveyed, their quantity and quality determined, and are being used in present times. For example, petroleum and natural gas is actively being obtained from the Mumbai High Fields. The development of an actual resource, such as wood processing depends upon the technology available and the
cost In production Production may be: Economics and business * Production (economics) * Production, the act of manufacturing goods * Production, in the outline of industrial organization, the act of making products (goods and services) * Production ...

cost
involved. That part of the actual resource that can be developed profitably with available technology is known as a reserve resource, while that part that can not be developed profitably because of lack of technology is known as a stock resource. Natural resources can be categorized on the basis of renewability: *
Non-renewable resources A non-renewable resource (also called a finite resource) is a natural resource that cannot be readily replaced by natural means at a quick enough pace to keep up with consumption. An example is carbon-based fossil fuel. The original organic matter ...
are formed over very long
geological period A geological period is one of the several subdivisions of geologic time enabling cross-referencing of rocks and geologic events from place to place. These periods form elements of a hierarchy of divisions into which geologist A geologist is a s ...
s. Minerals and fossils are included in this category. Since their rate of formation is extremely slow, they cannot be replenished, once they are depleted. Out of these, the metallic minerals can be re-used by recycling them, but coal and petroleum cannot be recycled. *
Renewable resources File:Global Vegetation.jpg, Global vegetation A renewable resource, also known as a flow resource, is a natural resource which will replenish to replace the portion resource depletion, depleted by usage and consumption, either through natural rep ...
, such as forests and fisheries, can be replenished or reproduced relatively quickly. The highest rate at which a resource can be used sustainably is the
sustainable yield The sustainable yield of natural capital on "natural capital" and "balancing the budget of our resources" File:Fires along the Rio Xingu, Brazil - NASA Earth Observatory.jpg, Fires along the Rio Xingu, Brazil - NASA Earth Observatory. Loss of na ...
. Some resources, such as sunlight, air, and wind, are called perpetual resources because they are available continuously, though at a limited rate. Their quantity is not affected by human consumption. Many renewable resources can be depleted by human use, but may also be replenished, thus maintaining a flow. Some of these, such as agricultural crops, take a short time for renewal; others, such as water, take a comparatively longer time, while still others, such as forests, take even longer. Dependent upon the speed and quantity of consumption, overconsumption can lead to depletion or total and everlasting destruction of a resource. Important examples are agricultural areas, fish and other animals, forests, healthy water and soil, cultivated and natural landscapes. Such conditionally renewable resources are sometimes classified as a third kind of resource, or as a subtype of renewable resources. Conditionally renewable resources are presently subject to excess human consumption and the only sustainable long term use of such resources is within the so-called zero ecological footprint, where in human use less than the Earth's ecological capacity to regenerate. Natural resources are also categorized based on distribution: * Ubiquitous resources are found everywhere (for example air, light, and water). * Localized resources are found only in certain parts of the world (for example metal ores and geothermal power). Actual vs. potential natural resources are distinguished as follows: * Actual resources are those resources whose location and quantity are known and we have the technology to exploit and use them. * Potential resources are the ones of which we have insufficient knowledge or we do not have the technology to exploit them at present. On the basis of ownership, resources can be classified as individual, community, national, and international.


Labour or human resources

In economics, labor or
human resources Human resources is the set of people who make up the workforce of an organization An organization, or organisation (English in the Commonwealth of Nations, Commonwealth English; American and British English spelling differences#-ise, - ...

human resources
refers to the human effort in the production of goods and rendering of services. Human resources can be defined in terms of skills, energy, talent, abilities, or knowledge. In a
project management Project management is the process of leading the work of a Project team, team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development pr ...
context, human resources are those employees responsible for undertaking the activities defined in the project plan.


Capital or infrastructure

In social studies,
capital Capital most commonly refers to: * Capital letter Letter case (or just case) is the distinction between the letters that are in larger uppercase or capitals (or more formally ''majuscule'') and smaller lowercase (or more formally ''minusc ...
refers to already-produced
durable good A car is a durable good. The gasoline that powers it is a non-durable good, or consumable good In economics, a durable good or a hard good or consumer durable is a Good (economics), good that does not quickly wear out or, more specifically, one ...
s used in production of
goods In economics Economics () is the social science that studies how people interact with value; in particular, the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods ...
or
services Service may refer to: Activities :''(See the Religion section for religious activities)'' * Administrative service, a required part of the workload of Faculty (academic staff), university faculty * Civil service, the body of employees of a governm ...
. In essence, capital refers to human-made resources created using knowledge and expertise based on utility or perceived value. Common examples of capital include buildings, machinery, railways, roads, and ships. As resources, capital goods may or may not be significantly consumed, though they may in the production process and they are typically of limited capacity or unavailable for use by others.


Tangible versus intangible

Whereas, tangible resources such as equipment have an actual physical existence, intangible resources such as corporate images, brands and patents, and other intellectual properties exist in abstraction.Berry, John. 2004. ''Tangible Strategies for Intangible Assets''. McGraw-Hill. .


Use and sustainable development

Typically resources cannot be consumed in their original form, but rather through resource development they must be processed into more usable commodities and usable things. With the increasing population, the demand for resources is increasing. There are marked differences in
resource distribution Resource distribution refers to the distribution of resources A resource is a source or supply from which a benefit is produced and that has some utility. Resources can broadly be classified upon their availability — they are classified into r ...
and associated
economic inequality 270px, Global share of wealth by wealth group, Credit Suisse, 2021 There are wide varieties of economic inequality, most notably measured using the distribution of incomeIn economics Economics () is the social science that studies ho ...
between regions or countries, with developed countries using more natural resources than developing countries.
Sustainable development Sustainable development is the organizing principle for meeting human development goals while simultaneously sustaining the ability of natural systems to provide the natural resources and ecosystem services Social forestry in India, Social ...

Sustainable development
is a pattern of resource use, that aims to meet human needs while preserving the
environment Environment most often refers to: __NOTOC__ * Natural environment, all living and non-living things occurring naturally * Biophysical environment, the physical and biological factors along with their chemical interactions that affect an organism or ...
. Sustainable development means that we should exploit our resources carefully to meet our present requirement without compromising the ability of future generations to meet their own needs. The practice of the three R's – reduce, reuse and recycle must be followed in order to save and extend the availability of resources. Various problems relate to the usage of resources: *
Environmental degradation Eighty-plus years after the abandonment of Wallaroo Mines (Kadina, South Australia), mosses remain the only vegetation at some spots of the site's grounds. Environmental degradation is the deterioration of the environment (biophysical), environmen ...
*
Over-consumption Overconsumption describes a situation where the use of a natural resource , Malaysia is an example of undisturbed natural resource. Waterfalls provide spring water for humans, animals and plants for survival and also habitat for marine organisms. ...
*
Resource curseThe resource curse, also known as the paradox of plenty or the poverty paradox, is the phenomenon of countries with an abundance of natural resources (such as fossil fuel A fossil fuel is a fuel formed by natural processes, such as anaerobi ...
*
Resource depletion Resource depletion is the consumption of a resource faster than it can be replenished. Natural resources are commonly divided between renewable resource File:Global Vegetation.jpg, Global vegetation A renewable resource, also known as a flo ...
*
Tragedy of the commons In economic science, the tragedy of the commons is a situation in which individual users, who have open access to a resource unhampered by shared social structures or formal rules that govern access and use, act independently according to their o ...
* Myth of superabundance Various benefits can result from the wise usage of resources: *
Economic growth Economic growth can be defined as the increase or improvement in the inflation-adjusted market value Market may refer to: *Market (economics) A market is a composition of system A system is a group of Interaction, interacting or interrela ...

Economic growth
*
Ethical consumerism Ethical consumerism (alternatively called ethical consumption, ethical purchasing, moral purchasing, ethical sourcing, ethical shopping also associated with sustainable and green consumerism) is a type of consumer activism based on the concept of ...
*
Prosperity Prosperity is the flourishing, thriving, good fortune and successful social status. Prosperity often produces profuse wealth including other factors which can be profusely wealthy in all degrees, such as happiness and health. Competing notio ...

Prosperity
*
Quality of life Quality of life (QOL) is defined by the World Health Organization The World Health Organization (WHO) is a list of specialized agencies of the United Nations, specialized agency of the United Nations responsible for international public heal ...

Quality of life
*
Sustainability Sustainability is the capacity to endure in a relatively ongoing way across various domains of life. In the 21st century, it refers generally to the capacity for Earth's biosphere and human civilization to co-exist. For many, sustainability is d ...

Sustainability
*
Wealth Wealth is the abundance of Value (economics), valuable financial assets or property, physical possessions which can be converted into a form that can be used for financial transaction, transactions. This includes the core meaning as held in the o ...

Wealth


See also

*
Natural resource management Natural resource management (NRM) is the management of natural resource , Malaysia is an example of undisturbed natural resource. Waterfalls provide spring water for humans, animals and plants for survival and also habitat for marine organism ...
*
Resource-based viewThe resource-based view (RBV) is a managerial framework used to determine the strategic resources a firm can exploit to achieve sustainable competitive advantage. Barney's 1991 article "Firm Resources and Sustained Competitive Advantage" is widely c ...
*
Waste management upContainers for consumer waste collection at the Gdańsk University of Technology Waste management (or waste disposal) includes the processes and actions required to manage waste from its inception to its final disposal. This includes ...

Waste management


References


External links

* {{Authority control Resource economics Ecology