What is the economy of resources?

The economy of resources is the division of economics that deals with the lack of natural resources of the country, especially about the use of these people's resources. The economy of resources deals not only with the use but also to the sustainability of these resources. This area of ​​the economy was particularly interested in the areas that take sources from the country, whether renewable or non -renewable.

One of the basic rules of any economic discipline is the question of compromises. It is assumed that we always want more than we can have and get something naturally means that we do without something else. So there is a compromise. However, the economy of resources often looks at compromises. Rather, the theory of resource economics assumes that we use these resources in the expansion of future generations. The question therefore concerns how we can maintain these natural resources, but we find solutions that are also socially and economically satisfactory.

To help findThis answer, Economics Resource Economics, looks at a number of different areas. It deals with sustainability. How much material can we use and reasonably expect to be there for future generations? However, this theory only applies to renewable sources. For example, the use of coal means that it is gone forever for all intentions and purposes because the replacement takes millions of years. In these cases, the economy of sources asks how much coal can be used without being placed on others, such as future generations on disproportionate problems. This assumes that other energy sources will be available in the future. Some of these questions are not easy to answer.

However, it should be noted that while the economy of resources is very dealing with future compromises this is not entirely to exclude current compromises. For example, the use of coal is a contemporary compromise in that a country that could be used for natural beauty and recreation is mined for something else. This is a natural compromise or the cost of opportunity, in economics.

Agriculture is often included as part of the economy of resources. Agricultural sustainability is very important because poor managing of the soil of these resources can lead to possible degradation and uselessness. Therefore, the use of soil to a point where it can no longer support viable crops is concerned that the economy of resources seeks to solve. It can do this by pointing out certain procedures of proceedings that can cost more in the short term, but can bring long -term benefits that would achieve much more in the future years.