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

3. 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

4. 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…

5. 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.

6. Capital Resources Resources a society uses to further the creation of wealth Printed money, factories, machinery, buildings and equipment A country can have many natural resources but not have the capital to develop those resources in to money making operations. Eg. Russia

7. 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 Oil prices fell – ruble lowered in value IMF provided Russia with over $22 billion, with conditions, but Russia failed to meet the conditions

8. 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

9. 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

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

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

12. 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

13. Sustainable Development Everything we need for survival and well-being depends, either directly or indirectly, on our natural environment Sustainable development is about meeting the needs of today without compromising the needs of future generations It is about improving the standard of living by protecting human health, conserving the environment, using resources efficiently and advancing long-term economic competitiveness. It requires the integration of environmental, economic and social priorities into policies and programs and requires action at all levels - citizens, industry, and governments.

14. Producers and Consumers Producers are those that manufacture the product. Consumers are the people who buy products and services. The more people that can be found to buy products equals greater profits for companies People can be both producers and consumers of the same product