Resource Definition

A resource is a source or supply from which a benefit is produced. It may be natural, such as air, water, and timber, or it may be man-made, such as buildings, machinery, and land.

In economics, resources are defined as anything that can be used to produce value and satisfy human needs and wants. The term includes both renewable and nonrenewable resources. Renewable resources are those that can be replenished or replaced in a relatively short period of time, such as solar energy, wind power, and biomass. Nonrenewable resources are those that cannot be easily replaced or replenished, such as fossil fuels and minerals.

Humans have always depended on resources for their survival. Today, the human population is larger than ever before and the demand for resources has never been greater. With the world’s population projected to reach 9 billion by 2050, it is more important than ever to use resources wisely and sustainably.