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8.2 Resource use in society - Coggle Diagram
8.2 Resource use in society
Valuation
Use valuation
natural capital that we can put a price on
ecological functions - water storage or gas exchange in forests
recreational functions - tourism, leisure activities
economic price of marketable goods
Non-use valuation
intrinsic value (the right to exist)
future uses that are unknown science, medicines, potential gene pool)
natural capital that is almost impossible to put a price on
existence value for future generations
Natural capital
Renewable NC
can be generated and/or replaced as fast as it is being used
1) living species & ecosystems that use solar energy & photosynthesis, 2) non-living items (groundwater, ozone layer)
can be used sustainably or unsustainably
Unsustainable use: when renewable NC is used beyond its natural income
Non-renewable NC
is either irreplaceable or only replaced over geological timescales
exist in finite amounts on Earth
minerals, soil, water in aquifers & fossil fuels
water may be considered renewable NC or non-renewable NC depending on its location
Resource that has value to humans and yields natural income
Recyclable resources
iron & aluminium can be recycled and reused over and over again
Dynamic nature of natural capital
depends on cultural, social, economic, environmental, technological and political factors
examples
Cork: used to seal wine bottles but are now replaced by plastic caps which are much cheaper
Lithium: Did not have any significant value before but are highly valuable now as it is used in batteries and are highly in demand