Value of a resource
The purely economic value of a resource is controlled by supply and demand. This is, however, a narrow perspective on resources as there are many things that cannot be measured in money.
Natural resources like forests, mountains etc. are considered beautiful so they have aesthetic value. Resources also have an ethical value as well, because it is widely recognized that it is our moral duty to protect and conserve them for the future generations (see sustainable development).
[edit]Characteristics of resources
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Resources have three main characteristics: utility, quantity (often in terms of availability), and consumption. However, this definition is not accepted by some, for example deep ecologists who believe that non-human elements are independent of human values.
See also: Infrastructure
[edit]Types of resources
[edit]Natural resources
Main article: Natural resource
Natural resources are derived from the environment. Many of them are essential for our survival while others are used for satisfying our wants. Natural resources may be further classified in different ways.
On the basis of origin, resources may be divided into:
- Biotic - Biotic resources are those obtained from the biosphere. Forests and their products, animals, birds and their products, fish and other marine organisms are important examples. Mineralssuch as coal and petroleum are also included in this category because they were formed from decayed organic matter.
- Abiotic - Abiotic resources comprise non-living things. Examples include land, water, air and minerals such as gold, iron, copper, silver etc.
On the basis of the stage of development, natural resources may be called:
- Potential Resources - Potential resources are those that exist in a region and may be used in the future. For example, mineral oil may exist in many parts of India having sedimentary rocks, but until the time it is actually drilled out and put into use, it remains a potential resource.
- Stock are the materials in the environment which have the potential to satisfy human needs but do not have the appropriate technology to access them. For example, hydrogen and oxygen are two inflammable gases present in water, but we do not have the technology to use them from water.
- Reserved Resources are the subset of stock, where use has not yet been started and are saved for future use.
- 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 obtained from the Mumbai High Fields. The development of an actual resource, such as wood processing depends upon the technology available and the cost involved. That part of the actual resource that can be developed profitably with available technology is called a reserve.
On the basis of renewability, natural resources can be categorized into:
- Renewable Resources - Renewable resources are those that can be replenished or reproduced easily. Some of them, like sunlight, air, wind, etc., are continuously available and 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, like agricultural crops, take a short time for renewal; others, like water, take a comparatively longer time, while still others, like forests, take even longer.[1]
- Non-renewable Resources - Non-renewable resources are formed over very long geological periods. 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.
On the basis of distribution,natural resources can be classified into:
Ubiquitous-are those that can be found everywhere.For example-air,light,water etc.
Localised-are those that can be found only in certain parts of the world.For example-copper and iron ore,thermal power plant etc.
On the basis of ownership,resources can be classified into:individual,community,national,and international Individual resources:
[edit]Human resources
Human beings can also considered to be resources. The term Human Resources can also be defined as the skills, energies, talents, abilities and knowledge that are used for the production of goods or the rendering of services.[citation needed]
In a project management context, human resources are those employees responsible for undertaking the activities defined in the project plan.[2]
[edit]Tangible / intangible resources
Resources may be split into tangible and intangible resources. Tangible resources are those resources like equipment, vehicles which have actual physical existence; whereas intangible resources are things like corporate images, brands and patentes that are present but cannot be grasped or contained.
[edit]Resource use and sustainable development
Many resources cannot be consumed in their original form. They have to be processed in order to change them into more usable commodities. This is known as resource development. With increasing population, the demand for resources has also increased. However, there is a difference in distribution of resources between regions or countries. Developed countries use more natural resources than developing countries[citation needed].
There are several problems related to the usage of resources:
