GLOSSARY OF TERMS
|
Natural Resource
|
Naturally occurring substances that are considered valuable in their relatively unmodified (natural) form. A natural resource's value rests in the amount of the material available and the demand for the certain material. The latter is determined by its usefulness to production. A commodity is generally considered a natural resource when the primary activities associated with it are extraction and purification, as opposed to creation. Thus, mining, petroleum extraction, fishing, hunting, and forestry are generally considered natural-resource industries, while agriculture is not. The term was introduced to a broad audience by E.F. Schumacher in his 1970s book Small is Beautiful.
(Adapted from Wikipedia).
|
