Global Resources
Resources are something that helps us to achieve a goal or fulfill a function.
Three types
- Natural
- Capital
- Human
Natural Resources
Natural Resources are materials that can be found in nature and used to make a profit. These are something, such as a forest, a mineral deposit, or fresh water that is found in nature and is necessary or useful to humans. These resources are useful raw materials that we get from the Earth. They occur naturally, which means that humans cannot make natural resources. Instead, we use and modify natural resources in ways that are beneficial to us. The materials used in human-made objects are natural resources.
Renewable natural resources: Any resource that can replace itself within a relatively short period of time (human scale). Examples of renewable resources include sunlight, air, and wind. They are available continuously and their quantity is not noticeably affected by human consumption. However, renewable resources do not have a rapid recovery rate and are susceptible to depletion if they are overused.
Non-Renewable natural resources: Resources that take millions of years to develop. Example: Mineral Resources. These resources form extremely slow and do not naturally form in the environment. A resource is considered to be non-renewable when their rate of consumption exceeds the rate of recovery. Examples of non-renewable natural resources are minerals and fossil fuels.
Capital Resources
Capital resource: resources a society uses to further the creation of wealth, such as factories, buildings, equipment. These resources are productive asset such as equipment, inventory, and plant, that (unlike a natural resource) is man-made and employed in generation of income. Example: CHS – Building used to enrich the human resources.
Resources must have a few key qualities to be considered a capital resource. They must:
- Be a component in the manufacturing process and necessary for the process to produce a product.
- Be used over an extended period of time. This time frame will vary according to the life expectancy of the resource, but may not only be used once.
- Be man-made.
The tools and machines used in the manufacturing process are great examples of capital resources. These items, regardless of what kind of item they are used to make, meet all three qualities: they are man-made, essential to the manufacturing process, and can be used time and time again over a long period of time.
Human Resources
Human resources are the people who comprise the labour force. Human resources are the company department charged with finding, screening, recruiting and training job applicants, as well as administering employee-benefit programs.
Human Resources is also the organizational function that deals with the people and issues related to people such as compensation, hiring, performance management, and training.
Example: Trees, Water treatment plant, Coal, Honey, Apples, Natural gas, Oil Refinery, Lobster etc.
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