Definition

1. Noun:
   • Assets in the form of material possessions: A "material resource" refers to any tangible asset or physical item that has value and can be used to produce goods, provide services, or generate wealth.

Usage

• The term "material resource" is used to categorize and discuss physical assets in economics, business, and project management. It distinguishes tangible assets (like raw materials, equipment, buildings) from non-material resources (like human capital, intellectual property, or time).

Examples

• Noun:
  • The company's primary material resources include its manufacturing plants and warehouse inventory.
  • A nation's material resources, such as mineral deposits and fertile land, are crucial for its economic development.
  • The project was delayed due to a shortage of key material resources like steel and concrete.

Advanced Usage

• "Pooling of material resources": The act of combining physical assets from different parties for a common purpose.
  • The success of the cooperative depended on the pooling of material resources from all member families.

Variants and Related Words

• Resource (n): A more general term for a stock or supply of money, materials, staff, and other assets that can be drawn on by a person or organization in order to function effectively.
• Natural Resource (n): Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain. (This is a specific type of material resource).
• Physical Asset (n): A synonym often used in accounting and finance, referring to tangible, long-term assets like property, plant, and equipment.

Synonyms

• Tangible assets
• Physical capital
• Material assets

Related Phrases

• Allocation of material resources: The process of assigning and distributing physical assets to various uses or departments.

  • Efficient allocation of material resources is a key management skill.

• Depletion of material resources: The reduction in the quantity of available physical assets, often through use or consumption.

  • The rapid depletion of material resources forced the company to seek new suppliers.

Noun

1. assets in the form of material possessions