Resources

What is a Resource? A resource is anything useful. A resource helps man to achieve a goal or fulfill a function. Three types of resources are: –Natural –Capital –Human

Natural Resources Resources occurring in nature that can be used to create wealth. Examples include oil, coal, water, and land. Two types of Natural resources are: - Renewable - Non-Renewable

Renewable Resources A resource that can replace itself within a relatively short period of time. ‘Relatively short’ is approximately 50 years on the human scale. Examples: water, fish, trees…

Non-Renewable Resources A resource that cannot be replaced within a human time frame. A Non –Renewable resource related to an energy source, such as oil or natural gas, or a natural resource, such as a metallic ore, is not replaceable after it has been used. Sources will eventually run out.

Capital Resources Resources a society uses to further the creation of wealth Printed money, factories, machinery, buildings and equipment

Human Resources The people who live in a certain area 3 Important Characteristics: Sufficient numbers to form a labor pool and domestic market for the goods and service Healthy enough to work productively and raise their families Opportunity for education and training – to become productive members of society

Russia Natural resources – oil, natural gas, coal, forests, and arable (farm) land No capital to develop or manufacture Looked for foreign investment Investors were hesitant due to political instability Asian market crisis hurt Russia Oil prices fell – ruble lowered in value IMF provided Russia with over $22 billion, with conditions, but Russia failed to meet the conditions

Randsland Broccoli Farm Broccoli supplier for Nova Scotia Unable to find workers locally Brought in employees from Cape Breton to harvest his crops Many quit or were not productive Took 10 years to convince the federal and provincial governments to allow him to bring in migrant workers from Jamaica

The Jamaicans Imagine going back to Jamaica and telling people you blew snow into boxes of broccoli!

On-site housing provided for the workers The fields in which they work

Migrant Workers Jamaicans go home with over $10,000 for 4-5 months work (large amount for them) Flights paid for Accommodations provided Hard physical labor, not desirable for many Canadians Type of work is not valued in Canada, but necessary for our economy