Economics 1. Natural Resources

Gift

These are the gifts of nature without which the survival of life is impossible. The sunlight, water, air, forests, soil, biodiversity, mineral ores, etc., are the natural resources which are vital for survival.

Renewable Resources

They are also called non-exhaustible resources. Ex- wind, sunlight etc.

Non-renewable

They are also called exhaustible resources. They do not renew themselves at a sufficient rate for sustainable economic extraction. Ex- iron ore, metals, petroleum etc.

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Scarcity refers to the short supply of our natural resources. Scarcity is the gap between available resources and limitless wants. We should use resources to complete our basic needs.

Sustainable development

Sustainable development is the development that meets the needs of the present without compromising the needs of the future generation. We should use resources carefully because resources on earth are limited and resources are compulsory for the survival of human being.

50% more (1 and a half earth)

In 2010, mankind used 18 billion hectares to meet their requirements, which is 50% more than the available 12 billion hectares.

Natural resources are naturally occurring substances that are considered valuable in their natural form. Eg: Soil to grow trees, minerals for raw materials, air to breathe etc.

Following are the examples:

a. Air (it is non-exhaustible, it can get polluted but will never end)

b. Land.

Abiotic resources refer to non-living physical and chemical elements in the ecosystem.

Following are the examples:

a. Water

b. Soil

c. Air

Conversation of natural resources means not wasting them, but utilising them judicially, so as to create a balance between their availability and our usage, and to use them in such a way that our demand is fulfilled and also there are plenty available for the future generation. For example using the water available in your city judicially and also conserving rain water using it when u needed.

It is a measure of human demand on earth and the earth’s capacity to regenerate resources consumed by human. Ecological footprint gives an idea about the extent of consumption of resources and waste generation by a country or by an individual in a country.

It is defined as all the land that is available to produce food, fibre and timber to meet our consumption demand and to absorb the wastes emitted when it uses energy and to provide space for infrastructure. World average ecological footprint in 2007 was 2.7 global hectare per person.

Recycling refers to converting the waste into usable material. Eg: reusing water to wash utensils and water the plants. Some Resources are in a limited amount on earth so its important to conserve those resources because we can't survive on the earth without resources.

Following are the causes:

a. Increasing overpopulation at a rate which cannot compete with the available resources which we have and more than one use of those resources.

b. With increased industrialisation demand for non-renewable resources have increased.

c. Expanding urban areas are resulting in the downfall of forests and agricultural land.

d. Pollution is another major cause of scarcity as, the resources which are available cannot be used or are hazardous to health.

e. Water pollution and land degradation have affected agricultural output, and hence the demand for the output cannot match its supply.

4Rs is a conservation strategy. Following are the 4Rs:

a. Reduce

Reducing the usage of any resources, to reduce its wastage. This will also help in reducing pollution.

b. Reuse

Also known as recycling the products, that is reusing a resource multiple times.

c. Recharge and Regenerate

It refers to providing ample opportunities to natural resources to grow through human efforts. Afforestation and rain water harvesting are an example of this strategy

d. Research

Researching ways to find renewable alternatives to non-renewable resources. Solar or wind energy is a renewable alternative to the energy we use.

Following are the steps:

a. Purchase less stuff and only those which we actually need

b. Recycle all the materials that we can

c. Purchase products made from recycled material

d. Reducing air pollution and water pollution

e. Take public transportation to work and school

f. Turning of electrical appliances when not in use

Following are the measures:

a. Buy locally grown or organic food

b. Have a kitchen garden as to cut down on fertiliser, wastage in shipping, packaging etc.

c. Take your own bag made of recyclable material to store

d. Buy and consume less processed food

e. Consume less packaged food

f. Aim for sustainable consumption pattern

It can be done in following manner:

a. Buy limited stocks of stationary

b. Reuse previous years text book

c. Switch off lights and fans when not needed

d. Use solar panels to generate electricity

e. Implement a rain water harvesting system

f. Close water taps properly

g. Recycle waste generated in school