8.2 Resource Use in Society

natural capital

the source of supply of resources and services obtained from nature

natural income

the yield from sources of natural capital

renewable natural capital

living things that can be generated/ replaced as fast as they are being used by natural productivity eg: food crops

replenishable natural capital

non-living resources that are continually replaced by natural processes eg: water

non-renewable natural capital

resources that are irreplaceable or only replaced over a long time scale (slower than they are being used) eg: fossil fuels

how can technological developments change the value of natural capital

resources that once had little value may become valuable due to technology giving them a new use or resources that were one valuable may become obsolete due to better technology being developed eg: uranium value increased when nuclear power was discovered

existence values (aesthetic/ intrinsic value)

no market price- natural capital is given value irrespective of its use to humans

direct value

valued because it is used directly by humans

indirect value

ecosystem services that benefit areas outside the ecosystem

option value

value given because of potential future use of the resource

consumptive value

value because it can be harvested for consumption

non-consumptive value

value given given because of recreational/ cultural use

when does natural capital become depleted

when it is being used at a faster rate than it can be renewed

problems in protecting natural capital (4)

people are unwilling to pay for environmental resources that were previously free

lack of knowledge for the amount of time it takes for resources to be renewed/ replenished

poor management of resources that can be used by multiple countries

inequalities between LEDCs and MEDCs and exploitation of LEDCs

sustainable yield

rate at which natural capital can be exploited without depleting the original stock or affecting its potential replenishment

how can culture affect value of natural capital

cultures may value nature for it’s beauty eg: for painting or poetry eg: Niagara falls

cultures may value nature for recreational activities like hiking eg: mountainous areas or medecinal plants for cultural traditions

how can religion impact the value of natural capital

religion such as Buddhism places strong inherent value on nature eg: rivers- the river Ghandes is seem as inherently valuable by Hindus

how can history impact the value of natural capital

historical issues with flooding or drought can lead to increased value of water

4 factors which make development sustainable

eco friendly, public participation, social justice and equity (eg: making poorer citizens stakeholders to increase their interest in sustainability) and futurity