Unit 8.2 Resource use in society

Question 1

Natural capital

Answer 1

Resources that the Earth provides which have value to humans

value may be aesthetic, cultural, economic, environmental, intrinsic, social, spiritual or technological

goods (like minerals)
services (like flood protection by forests).

Question 2

Natural income

Answer 2

Annual yield from these resources

Question 3

Renewable

Answer 3

Resources that can be replenished as quickly as they are used, including living species, ecosystems, groundwater, and the ozone layer.

Question 4

Non-renewable Resources

Answer 4

Comprises finite resources like minerals and fossil fuels, which cannot be replaced once exhausted or only over geological timescales.

Question 5

Dynamic nature of natural capital

Answer 5

Value of natural capital is dynamic and can change as human cultural and technological advancements evolve.

Influenced by cultural, social, economic, environmental, technological, and political factors.

Examples include the changing values of cork and lithium due to technological and market shifts.

Question 6

Mining for Lithium at Salar de Uyuni

Answer 6

Lithium’s unique properties (lightweight, heat-resistant, and capable of storing substantial energy) sparked a global demand for its extraction.

Known for over 200 years, its importance has increased with the rise of energy storage needs and electric vehicles.

Bolivia, home to vast lithium deposits, faces the challenge of benefiting from this demand sustainably.

Question 7

Cork Forests

Answer 7

Cork, once essential for sealing wine bottles, is being replaced by alternatives like plastic corks and screw-top bottles.

Cork forests are losing their value as natural capital, leading to their conversion for other uses.

Question 9

Measuring the Price of Nature

Answer 9

The price of nature is often assessed in monetary terms based on the market price of goods and services a resource produces.

Ecosystem services like soil erosion control and photosynthesis, and aesthetic values like landscape beauty, do not have direct market prices and are difficult to value with traditional economic accounting, often leading to their underestimation

Question 10

Non-monetary ways to value resources

Answer 10

1. The cost of replacing it with something else
2. The cost of mitigating its lost
3. How many people are willing to pay for it