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The non-extractive economic value of land is its monetary value the land creates without extracting resources or artificially developing it.. The economic value usually comes in the form of ecotourism: it is estimated that hundreds of billions of dollars are generated through visitation to protected areas, although little profit is reinvested in the preservation of said areas.
There are marked differences in resource distribution and associated economic inequality 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 . [ 1 ]
In economics, a non-renewable resource is defined as goods whose greater consumption today implies less consumption tomorrow. [27] David Ricardo in his early works analysed the pricing of exhaustible resources, and argued that the price of a mineral resource should increase over time. He argued that the spot price is always determined by the ...
An example of a non-renewable 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.
This glossary of geography terms is a list of definitions of terms and concepts used in geography and related fields, including Earth science, oceanography, cartography, and human geography, as well as those describing spatial dimension, topographical features, natural resources, and the collection, analysis, and visualization of geographic ...
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]
In economics, land comprises all naturally occurring resources as well as geographic land. Examples include particular geographical locations, mineral deposits, forests, fish stocks, atmospheric quality, geostationary orbits, and portions of the electromagnetic spectrum. Supply of these resources is fixed. [1]
The study of geography, in terms of how it has shaped or impacted on the settlement, location of resources, trade routes, shows how geography has shaped economic history. One of the reasons why interactions between geographic characteristics and economic activity can be convoluted is because the said characteristics are the primary cause by ...