A resource is any physical or virtual entity of limited availability, or anything used to help one earn a living.[citation needed] In most cases, commercial or even ethic factors require resource allocation through resource management.
As resources are very useful, we attach some information value to them. Resources help to produce goods so they have economic value. Natural resources like forests, mountains etc. are considered beautiful so they have aesthetic value. Gifts of nature such as water also have a legal value because it is our right to consume them. On the other hand, resources have an ethical value as well because it is our moral duty to protect and conserve them for the future generations.
Resources have three main characteristics: utility, quantity (often in terms of availability), and use in producing other resources. However, this definition is not accepted by some, for example deep ecologists who believe that non-human elements are independent of human values.
Resources are those things that can be physically combined to produce goods.
The value or the importance of the gifts of nature depends upon several factors:
According to Walter Youngquist, during periods of economic growth supply demands on a resource will typically rise due to increasing consumption from not only population growth but also higher living standards and the increased uses found for a given resource.[citation needed]
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.
Tangible resource - Conventional resources like plants, equipments, IT infrastructure etc.
Human resource - See above.
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 the rise in human numbers all over the world, the demand for resources has also increased. However, there is a difference in distribution of resources to different regions or countries. Developed countries use more resources than developing countries.
The rising demand coupled with the over-consumption of resources has led to several problems:
Industrial Yarns Sewing Threads (Resources)
