What does "the event of economic consequences" mean?
This text is basically about the use of assets. They can be sold once generating some cash or they can be put to use generating cash. The latter can be done multiple times (which is what the repeatability phrase is about), and in the long run should generate more cash than just selling it.
When writing that the latter is the event of economic consequence, the authors mean that this is the process that generates the most money.
Incidentally you seem to be thinking of natural assets, but the authors are thinking of man-made capital assets such as machines or buildings. Those can be put to use.