Everything about Resource Depletion totally explained
Resource depletion is an
economic term referring to the exhaustion of raw materials within a region.
Resources are commonly divided between
renewable resources and
non-renewable resources. Use of either of these forms of resources beyond their rate of replacement is considered to be resource depletion.
Resource depletion is most commonly used in reference to the
farming,
fishing,
mining, and
fossil fuels.
Normally, resources won't become totally exhausted at some particular moment, but rather will diminish until the price of continued exploitation becomes so high that it's no longer economical. According to
Hubbert peak theory, the rate of exploitation follows a sort of bell-shaped curve. The
Hubbert peak theory article discusses predictions for some resources.
Estimates for when various resources will run out if exploitation continues at present rates are somewhat controversial, but for some resources, the estimated time left is rather short.
Causes of depletion of resources
Modeling resource depletion
Jay Forrester created the discipline of
System Dynamics, which facilitates modeling of resource depletion within larger economic systems.
Further Information
Get more info on 'Resource Depletion'.
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