3.2 Resources - Natural Capital

Assessment Statements

• 3.2.1 Explain the concept of resources in terms of natural income.

• 3.2.2 Define the terms renewable, replenishable and non‑renewable natural capital.

• 3.2.3 Explain the dynamic nature of the concept of a resource.

• 3.2.4 Discuss the view that the environment can have its own intrinsic value.

• 3.2.5 Explain the concept of sustainability in terms of natural capital and natural income.

• 3.2.6 Discuss the concept of sustainable development.

• 3.2.7 Calculate and explain sustainable yield from given data.

Key Vocabulary

• Natural capital - Material resources (NOT forms of energy) that are stored on our planet.

  • Renewable - Biotic resources that replace themselves quickly. i.e. trees, crops, livestock, fish, etc.

  • Replenishable - Abiotic resources that use the Sun's energy for replenishment. i.e. groundwater, ozone, etc.

  • Non-renewable - Abiotic resources that cannot be replaced (or only over geologic timescales). i.e. fossil fuels, minerals, etc.

  • Recyclable - Abiotic resources that can be reused indefinitely. i.e. metals

• Natural income

• Value

  • Goods - Value due to harvest or salability is relatively easy to quantify.

  • Services - Value due to soil stabilization, air/water purification and food web support is difficult to quantify.

  • Intrinsic - Value due to the right to life (because all living organisms deserve to live) is difficult to quantify.

  • Aesthetic - Value due to beauty and how we're made to feel is difficult to quantify.

  • Cultural - Value due to spiritual or religious importance is difficult to quantify.

• Sustainability - Resource use that does not compromise (negatively impact) long term productivity.

  • Sustainable yield

  • Sustainable development