What is a Resource?

Exhaustible Resources

Renewable Resources

• Flow and Stock Resources

Resource Pyramid

• Resource base
• Mineral Endowment
• Economic Resources
  • Potential supply
  • Reserves
    

Hotelling Rule

Ricardian Scarcities vs. Malthusian Scarcities

Technology and Resource Subsitution

Mining in Minnesota's Iron Range
Technological change, Taconite, andTourism

Assignment For Next Time

Read pp. 142-155 Come to class with a basic understanding of the following concepts: pollution, wildlife and habitat preservation, environmental equity, sustainable development, growth oriented vs. balance oriented economic system.