Definition of physical resources?

Question

it is all about economics

Answer 1

Matter, energy, wealth and soul are the manifestations of the Lord. Matter and energy useful to soul are called wealth. Therefore matter and energy are physical resources. Soul, after consuming or utilising matter and energy develops inner wealth or human resource.

Answer 2

Physical resources only become natural resources when we discover some way to make them economically useful. The world possessed vast reserves of oil for millions of years, but it sat useless in the ground as people had no better way to light, heat, and power their homes and factories than to use candles, wood-burning stoves, and steam power. It has only been about 150 years since humans discovered oil’s economic usefulness. When we consider resources in this light, it becomes clear that a “natural resource” can include almost any existing material on Earth, so long as some way is found to use it to satisfy our material needs and desires. “Energy” is a resource critical to man’s survival, comfort, and well-being; “oil” serves as a resource only because it is a form of energy.

Physical resources become economic resources when they are combined into more useful arrangements by human ingenuity and work—whether that involves picking apples from a tree or mining the materials and producing the energy needed to build and run a particle accelerator. In terms of resources then, we are limited only by the total amount of elements existing on Earth, from its core to the stratosphere. Allowing for space travel, we are limited only by the sum of all the elements existing in the universe.

So, as long as people are concerned with their own well-being and free from arbitrary restraints on pursuing that well-being (for instance: environmental regulations, severance taxes, and wildlife preserves), we will never run out of natural, economic resources. The potential to discover new energy sources and new methods of production is not a matter of the capricious whim of “mother nature,” but rather a function of man’s reasoning mind, which has an unlimited potential to understand the world and make new discoveries. As the economist Julian Simon put it, human beings themselves are “the ultimate resource.”