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A '''resource''' is any [[physical]], [[intellectual]], or [[spiritual]] substance utilized to create greater life and living. As resources are very useful, we attach value to them. Resources help to produce goods so they have [[economic]] [[value]]. Natural resources like forests, mountains etc. are considered [[beautiful]] so they have [[aesthetic]] [[value]]. Gifts of [[nature]] such as water also have a [[legal]] value because it is our right to consume them. On the other hand, resources have an [[ethical]] value as well because it is our [[moral]] [[duty]] to protect and conserve them for the future [[generations]].

A '''resource''' is any [[physical]], [[intellectual]], or [[spiritual]] substance utilized to create greater life and living. As resources are very useful, we attach value to them. Resources help to produce goods so they have [[economic]] [[value]]. Natural resources like forests, mountains etc. are considered [[beautiful]] so they have [[aesthetic]] [[value]]. Gifts of [[nature]] such as water also have a [[legal]] value because it is our right to consume them. On the other hand, resources have an [[ethical]] value as well because it is our [[moral]] [[duty]] to protect and conserve them for the future [[generations]].

==Characteristics of resources==

==Characteristics of resources==

Resources have three main characteristics: utility, [[quantity]] (often in terms of availability), and use in producing other resources. However, this definition is not accepted by some, for example [http://en.wikipedia.org/wiki/Deep_ecology deep ecologists] who believe that non-human elements are independent of human [[values]].

Resources have three main characteristics: utility, [[quantity]] (often in terms of availability), and use in producing other resources. However, this definition is not accepted by some, for example [https://en.wikipedia.org/wiki/Deep_ecology deep ecologists] who believe that non-human elements are independent of human [[values]].

The [[quantity]] of a resource refers to the total amount of a given raw material, rather than reserve, which is an [[economic]] term. Bottlenecks may form, making some resources unavailable, producing supply shocks. Resource prices are prone to increases as speculators add commodity [[value]] to a resource or when [[risk]], such as from geopolitical issues, are seen as an [[influencing]] factor in [[relation]] to the [[security]] of resource supply.

The [[quantity]] of a resource refers to the total amount of a given raw material, rather than reserve, which is an [[economic]] term. Bottlenecks may form, making some resources unavailable, producing supply shocks. Resource prices are prone to increases as speculators add commodity [[value]] to a resource or when [[risk]], such as from geopolitical issues, are seen as an [[influencing]] factor in [[relation]] to the [[security]] of resource supply.