50-65

• Bulearcă, Marius
• Popescu, Cătălin
• Sima, Cristian
• Ghika, Constantin
• Neagu, Cornelia

Natural resources are not homogeneous in nature, having certain features in the productive process that require grouping them into different categories by different criteria. Consequently, natural resources cannot be addressed all at once, but only distinctly, according to relevant criteria selected based on the proposed goals. This criteria selection process requires special mathematical models and features that form the main object of the present paper. Furthermore, the paper also intends to cover the social importance of understanding resources misuse, which is based on the social opportunity cost and the total economic value. These concepts, alongside the types and sources of inefficiency in resource management, will subsequently be analyzed, in order to gain a complete and informed picture, while also understanding the market and government failures in this respect.

• Economics and Business
• Computer and information sciences

• Managerial economics
• Industries
• Value
• Statistics

economic management principles, mathematical models, mining industry, natural resources market, scarcity, property rights regime, social opportunity cost, total economic value

Περιέχει σχήμα, διαγράμματα και βιβλιογραφία