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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, 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 ...
They replenish easily compared to non-renewable resources. The waters of the White Nile River are a key natural resource for Uganda. Non-renewable resources: These resources are formed over a long geological time period in the environment and cannot be renewed easily. Minerals are the most common resource included in this category.
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 ...
The depletion of resources has been an issue since the beginning of the 19th century amidst the First Industrial Revolution.The extraction of both renewable and non-renewable resources increased drastically, much further than thought possible pre-industrialization, due to the technological advancements and economic development that lead to an increased demand for natural resources.
Environmental studies connects principles from the physical sciences, commerce/economics, the humanities, [1] and social sciences [2] to address complex contemporary environmental issues. It is a broad field of study that includes the natural environment , the built environment , and the relationship between them.
Geoeconomics (sometimes geo-economics) is the study of the spatial, temporal, and political aspects of economies and resources. Although there is no widely accepted singular definition, [ 1 ] the distinction of geoeconomics separately from geopolitics is often attributed to Edward Luttwak , an American strategist and military consultant, and ...
Integrated natural resource management (INRM) is the process of managing natural resources in a systematic way, which includes multiple aspects of natural resource use (biophysical, socio-political, and economic) meet production goals of producers and other direct users (e.g., food security, profitability, risk aversion) as well as goals of the ...