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A McKelvey diagram or McKelvey box is a visual representation used to describe a natural resource such as a mineral or fossil fuel, based on the geologic certainty of its presence and its economic potential for recovery. The diagram is used to estimate the uncertainty and risk associated with availability of a natural resource.
Erich Walter Zimmermann (July 31, 1888 – February 16, 1961) was a resource economist. He was an economist at the University of North Carolina and later the University of Texas. Zimmermann of the Institutional school of economics [1] called his real world theory the functional theory of mineral resources.
Conservation of Resources (COR) Theory is a stress theory that describes the motivation that drives humans to both maintain their current resources and to pursue new resources. [ 1 ] This theory was proposed by Dr. Stevan E. Hobfoll in 1989 as a way to expand on the literature of stress as a construct .
The economic domain is defined as the practices and meanings associated with the production, use, and management of resources, where the concept of 'resources' is used in the broadest sense of that word. Production and resourcing; Exchange and transfer; Accounting and regulation; Consumption and use; Labour and welfare; Technology and ...
The perpetual resource concept is a complex one because the concept of resource is complex and changes with the advent of new technology (usually more efficient recovery), new needs, and to a lesser degree with new economics (e.g. changes in prices of the material, changes in energy costs, etc.).
In the resource-based view, strategists select the strategy or competitive position that best exploits the internal resources and capabilities relative to external opportunities. Given that strategic resources represent a complex network of inter-related assets and capabilities, organisations can adopt many possible competitive positions.
Dependency theory is the idea that resources flow from a "periphery" of poor and exploited states to a "core" of wealthy states, enriching the latter at the expense of the former. A central contention of dependency theory is that poor states are impoverished and rich ones enriched by the way poor states are integrated into the " world system ".
Resource competition can vary from completely symmetric (all individuals receive the same amount of resources, irrespective of their size, known also as scramble competition) 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).