ECONOMICS - Economic Resources

resources

things that can be used to produce goods and services that address human wants and needs

natural resources

things in the environment given by nature

human resources

the country labor force, skills, and intelligence

capital resources

produced goods used to produce other goods

alienable/disposable land

can be sold, owned, or given as request, and distributed to and by private individuals

the coral triangle

marine area abundant in corals and mangroves

mineral resources

source of raw materials needed in the production of goods

mining companies

source of jobs

mining act of 1995

allows foreign ownership of mining assets and exploration assets

minerals

precious metals and base metals

continuous and illegal mining

causes of depletion of mining

hydro energy

generates electricity from a trapped wall of water

geothermal energy

generates power from natural steam, hot water, hot rocks, or lava

solar energy

energy from the sun/cleanest and most abundant renewable energy source

wind energy

generates energy from the rotation of the windmills

coal

energy from burning fossilized plants

renewable resources

when exhausted, can be regenerated in a few years

non-renewable resources

when exhausted, can be renewed only after a long period

demography

statistical study of human populations

population

total no. of people who live in a particular place

labor force

no. of people employed and unemployed looking for work

negative effects of population on economy

large population contributes to depletion of natural resources
higher demand = greater use of natural resources

more labor force

positive effects of population on economy