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Resource refers to all the materials available in our environment which are
technologically Technology is the application of knowledge to reach practical goals in a specifiable and reproducible way. The word ''technology'' may also mean the product of such an endeavor. The use of technology is widely prevalent in medicine, science, ...
accessible, economically feasible and
culturally Culture () is an umbrella term which encompasses the social behavior, institutions, and Social norm, norms found in human Society, societies, as well as the knowledge, beliefs, arts, laws, Social norm, customs, capabilities, and habits of the ...
sustainable and help us to satisfy our needs and wants. Resources can broadly be classified upon their availability — they are classified into
renewable A renewable resource, also known as a flow resource, is a natural resource which will replenish to replace the portion depleted by usage and consumption, either through natural reproduction or other recurring processes in a finite amount of ti ...
and non-renewable 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 is the application of knowledge to reach practical goals in a specifiable and Reproducibility, reproducible way. The word ''technology'' may also mean the product of such an endeavor. The use of technology is widely prevalent in me ...
. 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 abundant and widespread species of primate, characterized by bipedalism and exceptional cognitive skills due to a large and complex brain. This has enabled the development of advanced tools, cultu ...
perspective, a
natural resource Natural resources are resources that are drawn from nature and used with few modifications. This includes the sources of valued characteristics such as commercial and industrial use, aesthetic value, scientific interest and cultural value. ...
is anything obtained from the 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 the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes ...
,
biology Biology is the scientific study of life. It is a natural science with a broad scope but has several unifying themes that tie it together as a single, coherent field. For instance, all organisms are made up of cells that process hereditary i ...
and
ecology Ecology () is the study of the relationships between living organisms, including humans, and their physical environment. Ecology considers organisms at the individual, population, community, ecosystem, and biosphere level. Ecology overl ...
,
computer science Computer science is the study of computation, automation, and information. Computer science spans theoretical disciplines (such as algorithms, theory of computation, information theory, and automation) to practical disciplines (includi ...
,
management Management (or managing) is the administration of an organization, whether it is a business, a nonprofit organization, or a Government agency, government body. It is the art and science of managing resources of the business. Management includ ...
, and
human resources Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include ...
for example - linked to the concepts of
competition Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, indiv ...
, 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 managem ...
, and stewardship. In application within human
society A society is a group of individuals involved in persistent social interaction, or a large social group sharing the same spatial or social territory, typically subject to the same political authority and dominant cultural expectations. Soci ...
,
commercial Commercial may refer to: * a dose of advertising conveyed through media (such as - for example - radio or television) ** Radio advertisement ** Television advertisement * (adjective for:) commerce, a system of voluntary exchange of products and s ...
or non-commercial factors require
resource allocation In economics, resource allocation is the assignment of available resources to various uses. In the context of an entire economy, resources can be allocated by various means, such as markets, or planning. In project management, resource allocati ...
through
resource management In organizational studies, resource management is the efficient and effective development of an organization's resources when they are needed. Such resources may include the financial resources, inventory, human skills, production resources, or i ...
. The concept of a resource can also be tied to the direction of
leadership Leadership, both as a research area and as a practical skill, encompasses the ability of an individual, group or organization to "lead", influence or guide other individuals, teams, or entire organizations. The word "leadership" often gets vi ...
over resources, this can include the things leaders have responsibility for over the human resources, with management, help, support or direction such as in charge of a professional group, technical experts, innovative leaders, archiving expertise, academic management,
association management Association management is a field of management which focuses on the management of associations. There are more than 25,000 national associations and 65,000 local, state or regional associations in the United States. These organizations employ mor ...
,
business management Business administration, also known as business management, is the administration of a commercial enterprise. It includes all aspects of overseeing and supervising the business operations of an organization. From the point of view of managemen ...
, healthcare management, military management,
public administration Public Administration (a form of governance) or Public Policy and Administration (an academic discipline) is the implementation of public policy, administration of government establishment (public governance), management of non-profit est ...
, spiritual leadership and social networking administrator.


Economic

In
economics Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes ...
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 recognizes three categories of resources, also referred to as
factors of production In economics, factors of production, resources, or inputs are what is used in the production process to produce output—that is, goods and services. The utilized amounts of the various inputs determine the quantity of output according to the rel ...
: 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 Natural resources are resources that are drawn from nature and used with few modifications. This includes the sources of valued characteristics such as commercial and industrial use, aesthetic value, scientific interest and cultural value. ...
and is viewed as both the site of production and the source of raw materials. Labour or
human resources Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include ...
consists of human effort provided in the creation of products, paid in
wage A wage is payment made by an employer to an employee for work done in a specific period of time. Some examples of wage payments include compensatory payments such as ''minimum wage'', '' prevailing wage'', and ''yearly bonuses,'' and remune ...
. Capital consists of human-made goods or means of production (machinery, buildings, and other infrastructure) used in the production of other goods and services, paid in
interest In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distin ...
.


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 doct ...
, and 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 (; ) is the belief that human beings are the central or most important entity in the universe. The term can be used interchangeably with humanocentrism, and some refer to the concept as human supremacy or human exceptionalism. ...
) and the biological or ecological resource definition is nature-centered ( biocentric or
ecocentric Ecocentrism (; from Greek: οἶκος ''oikos'', "house" and κέντρον ''kentron'', "center") is a term used by environmental philosophers and ecologists to denote a nature-centered, as opposed to human-centered (i.e. anthropocentric), syst ...
); 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 or information management system. Computer resources include means for input, processing, output, communication, and storage.


Natural

Natural resources are derived from the environment. Many natural resources are essential for human survival, while others are used for satisfying human desire. Conservation is management of
natural resources Natural resources are resources that are drawn from nature and used with few modifications. This includes the sources of valued characteristics such as commercial and industrial use, aesthetic value, scientific interest and cultural value. ...
with the goal of 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, also known as dry land, ground, or earth, is the solid terrestrial surface of the planet Earth that is not submerged by the ocean or other bodies of water. It makes up 29% of Earth's surface and includes the continents and various isla ...
,
water Water (chemical formula ) is an Inorganic compound, inorganic, transparent, tasteless, odorless, and Color of water, nearly colorless chemical substance, which is the main constituent of Earth's hydrosphere and the fluids of all known living ...
,
air The atmosphere of Earth is the layer of gases, known collectively as air, retained by Earth's gravity that surrounds the planet and forms its planetary atmosphere. The atmosphere of Earth protects life on Earth by creating pressure allowing f ...
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 ...
such as gold, iron, copper, silver). * Biotic resources are obtained from the
biosphere The biosphere (from Greek βίος ''bíos'' "life" and σφαῖρα ''sphaira'' "sphere"), also known as the ecosphere (from Greek οἶκος ''oîkos'' "environment" and σφαῖρα), is the worldwide sum of all ecosystems. It can also ...
. Forests and their products, animals, birds and their products,
fish Fish are aquatic, craniate, gill-bearing animals that lack limbs with digits. Included in this definition are the living hagfish, lampreys, and cartilaginous and bony fish as well as various extinct related groups. Approximately 95% of ...
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 ...
such as coal and
petroleum Petroleum, also known as crude oil, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crud ...
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, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crud ...
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 Wood processing is an engineering discipline in the wood industry comprising the production of forest products, such as pulp and paper, construction materials, and tall oil. Paper engineering is a subfield of wood processing. The major wood pro ...
depends upon the technology available and the
cost In production, research, retail, and accounting, a cost is the value of money that has been used up to produce something or deliver a service, and hence is not available for use anymore. In business, the cost may be one of acquisition, in whic ...
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 pace quick enough to keep up with consumption. An example is carbon-based fossil fuels. The original organic mat ...
are formed over very long
geological period The geologic time scale, or geological time scale, (GTS) is a representation of time based on the rock record of Earth. It is a system of chronological dating that uses chronostratigraphy (the process of relating strata to time) and geoc ...
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. Even though metals can be recycled and reused, whereas petroleum and gas cannot, they are still considered non-renewable resources. *
Renewable resources A renewable resource, also known as a flow resource, is a natural resource which will replenish to replace the portion depleted by usage and consumption, either through natural reproduction or other recurring processes in a finite amount of ti ...
, 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. 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 (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include ...
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 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 process. T ...
context, human resources are those employees responsible for undertaking the activities defined in the project plan.


Capital or infrastructure

In social studies, capital refers to already-produced durable goods used in production of
goods In economics, goods are items that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying product. A common distinction is made between goods which are transferable, and services, which are not t ...
or
services Service may refer to: Activities * Administrative service, a required part of the workload of university faculty * Civil service, the body of employees of a government * Community service, volunteer service for the benefit of a community or a p ...
. 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
depreciate In accountancy, depreciation is a term that refers to two aspects of the same concept: first, the actual decrease of fair value of an asset, such as the decrease in value of factory equipment each year as it is used and wear, and second, the ...
in the
production process Industrial processes are procedures involving chemical, physical, electrical or mechanical steps to aid in the manufacturing of an item or items, usually carried out on a very large scale. Industrial processes are the key components of heavy in ...
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. The demand for resources is increasing as economies develop. There are marked differences in resource distribution and associated
economic inequality There are wide varieties of economic inequality, most notably income inequality measured using the distribution of income (the amount of money people are paid) and wealth inequality measured using the distribution of wealth (the amount of ...
between regions or countries, with developed countries using more natural resources than developing countries. Sustainable development is a pattern of resource use, that aims to meet human needs while preserving the environment. 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 * Over-consumption *
Resource curse The 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 fuels and certain minerals) having less economic growth, less democracy, or worse ...
*
Resource depletion Resource depletion is the consumption of a resource faster than it can be replenished. Natural resources are commonly divided between renewable resources and non-renewable resources (see also mineral resource classification). Use of either ...
*
Tragedy of the commons Tragedy (from the grc-gre, τραγῳδία, ''tragōidia'', ''tragōidia'') is a genre of drama based on human suffering and, mainly, the terrible or sorrowful events that befall a main character. Traditionally, the intention of tragedy i ...
*
Myth of superabundance The myth of superabundance is the belief that Earth has more than sufficient natural resources to satisfy humanity's needs, and that no matter how much of these resources humanity uses, the planet will continuously replenish the supply. Although t ...
Various benefits can result from the wise usage of resources: * Economic growth *
Ethical consumerism Ethical consumerism (alternatively called ethical consumption, ethical purchasing, moral purchasing, ethical sourcing, or ethical shopping and also associated with sustainable and green consumerism) is a type of consumer activism based on the con ...
* Prosperity *
Quality of life Quality of life (QOL) is defined by the World Health Organization as "an individual's perception of their position in life in the context of the culture and value systems in which they live and in relation to their goals, expectations, standards ...
* Sustainability *
Wealth Wealth is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions. This includes the core meaning as held in the originating Old English word , which is from an I ...


See also

*
Natural resource management Natural resource management (NRM) is the management of natural resources such as land, water, soil, plants and animals, with a particular focus on how management affects the quality of life for both present and future generations (stewardship) ...
* Resource-based view *
Waste management Waste management or waste disposal includes the processes and actions required to manage waste from its inception to its final disposal. This includes the collection, transport, treatment and disposal of waste, together with monitorin ...


References


External links

* {{Authority control Resource economics Ecology