Renewable Natural Resources:

Those natural  resources  are  classified  as  renewable that  are  capable  of  self- production. Water and air including solar radiation and anything else that is a part of the atmosphere comes under  the category of  renewable natural resources. They are used in conjunction with  labour and capital to produce goods. Resources like fish and forest are  renewable  resources and can  also be  replaced. Renewable resources are considered to be  infinite and substitutable between varieties. For example, a stock of fish can be replaced by another so long as overall fish stocks exist. Hence, for policy makers the focus would be  upon  the nature of the production  function of  the fishery industry to  indicate the extent of  labour and  capital needed  for raising a particular amount  of fish stock.  However,  as  the  use of  natural  resources  is  becoming increasingly intense, several varieties of renewable resources cannot be  replaced at the speed they are being consumed, hence the fear of destruction/extinction  of these resources.  In  recent  years, depletion  of  several  species of  fish  and  extinction  of several flora  and  fauna  thus  reducing biodiversity  has become  a  major  concern.

Several action plans with a global reach have been devised to protect the endangered species. In  this context, forestry and wildlife protection have assumed significance to retain diversity in nature and to stabilize  the survival of various species of plants and animals.