Notes on Economic Development and Resource Management

INTRODUCTION

  • Economic development relies on the availability of resources.
  • Resources are created through the interaction of dynamic factors: natural and human.
  • Human needs are limitless; thus, there is a need to utilize natural resources to meet these needs.
  • Human wants and knowledge drive the development of resources.
  • Over time, humans create newer and superior resources, transforming natural materials into valuable resources.

DEFINITION OF RESOURCES

  • Resources are defined as anything available in the environment that can satisfy human needs, provided it meets the following criteria:
    • Technologically accessible
    • Economically feasible
    • Culturally acceptable

CLASSIFICATION OF RESOURCES

Based on various characteristics and distributions, resources can be classified as follows:

a) On the Basis of Origin

  1. Biotic Resources
    • Derived from the biosphere (living resources).
    • Examples: Human beings, livestock, plants, etc.
  2. Abiotic Resources
    • Derived from non-living materials.
    • Examples: Rocks, minerals, etc.

b) On the Basis of Exhaustibility

  1. Renewable Resources
    • Can be reproduced or renewed through physical, chemical, or mechanical processes.
    • Examples: Water, wind, solar energy, forests, and wildlife.
  2. Non-renewable Resources
    • Cannot be reused or renewed; they exhaust over geological time.
    • Examples: Minerals, fossil fuels (coal, oil).

c) On the Basis of Ownership

  1. Individual Resources
    • Privately owned by individuals.
    • Examples: Land owned by a farmer, ponds, wells.
  2. Community Owned Resources
    • Accessible by all members of the community.
    • Examples: Village pond, village well, grazing grounds, playground.
  3. National Resources
    • Resources that belong to the nation within its political boundaries.
    • Examples: Roads, rivers, railways, forests.
  4. International Resources
    • Resources found in international waters (beyond 200 nautical miles), utilized by international bodies.

d) On the Basis of the State

  1. Developed Resources
    • Resources that have been fully developed to meet demands.
  2. Potential Resources
    • Resources that exist but are not currently in use.
  3. Reserves
    • Resources that can meet demands but are not currently utilized.

CAUSES OF RESOURCE DEPLETION

  • Rapid population growth
  • Technological development
  • Over-exploitation of resources
  • Increased waste production
  • Cultural irresponsibility

SUSTAINABLE DEVELOPMENT

  • Aims to meet essential needs while ensuring resource preservation for future generations.

WORLD EFFORTS TOWARDS DEVELOPMENT

  • Industrial development has led to the exploitation of natural resources for economic growth.
  • Issues arising: Environmental deterioration, loss of biodiversity.
  • Global initiatives have been undertaken, such as:
    • Conference on Human Environment
    • Development Summit of 2002
  • Purpose of these initiatives: Conserving resources and promoting sustainable development.