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Scarcity also includes an individual's lack of resources to buy commodities. [2] The opposite of scarcity is abundance. Scarcity plays a key role in economic theory, and it is essential for a "proper definition of economics itself". [3] "The best example is perhaps Walras' definition of social wealth, i.e., economic goods. [3] 'By social wealth ...
Economic gains from natural resources are mostly beneficial when directed towards initiatives such as job creation, skill enhancement, capacity building, and pursuit of long-term developmental objectives. Thus, reliance on one or more natural resources holds financial risk when aiming for a stable economic growth. [28]
Natural resource management is a discipline in the management of natural resources such as land, water, soil, plants, and animals—with a particular focus on how management affects quality of life for present and future generations. Hence, sustainable development is followed according to the judicious use of resources to supply present and ...
Water is scarce in densely populated arid areas. These are projected to have less than 1000 cubic meters available per capita per year. Examples are Central and West Asia, and North Africa). [3] A study in 2007 found that more than 1.2 billion people live in areas of physical water scarcity. [20]
Coal, produced over millions of years, is a finite and non-renewable resource on a human time scale. 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. [1] An example is carbon-based fossil fuels.
Male-male competition in red deer during rut is an example of interference competition within a species. During interference competition, also called contest competition, organisms interact directly by fighting for scarce resources. For example, large aphids defend feeding sites on cottonwood leaves by
This may be due, for example, to an unwillingness to change one's own consumption patterns or to share scarce natural resources more equally, or to a psychological defence mechanism. The scarcity of resources raises a central moral problem concerning the distribution and allocation of natural resources.
Natural resources are resources that exist without actions of humankind; this includes characteristics such as magnetic, gravitational, and electrical properties and forces. Resources may be classified as renewable or nonrenewable .