Natural Resources: Economics, Management and Policy

Natural resources are naturally occurring substances that are considered valuable in their relatively unmodified (natural) form. A natural resource's value rests in the amount of the material available and the demand for it. The latter is determined by its usefulness to production. A commodity is generally considered a natural resource when the primary activities associated with it are extraction and purification, as opposed to creation. Thus, mining, petroleum extraction, fishing, hunting, and forestry are generally considered natural-resource industries, while agriculture is not. This book presents the latest information from around the globe in this diverse and important field of research.