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Natural resources

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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. There are two types of natural resources; renewable resources and non renewable resources

Natural resource are natural capital converted to commodity inputs to infrastructural capital processes. They include soil, timber, oil, minerals, and other goods taken more or less from the Earth. Both extraction of the basic resource and refining it into a purer, directly usable form, (e.g., metals, refined oils) are generally considered natural-resource activities, even though the latter may not necessarily occur near the former.

A nation's natural resources often determine its wealth in the world economic system, by determining its political influence. Developed nations are those which are less dependent on natural resources for wealth, due to their greater reliance on infrastructural capital for production. However, some see a resource curse whereby easily obtainable natural resources could actually hurt the prospects of a national economy by fostering political corruption. Political corruption can negatively impact the national economy because time is spent giving bribes or other economically unproductive acts instead of the generation of generative economic activity. There also tends to be concentrations of ownership over specific plots of land that have proven to yield natural resources.

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