'Vasudha' means the earth or Bhoomi. Vasudha Lakshmi is also known as Bhoo Lakshmi or Bhoodevi. She is the solid, patient, stable mother earth.
Life exists on 'Dharti mata' or land and she provides humanity with earth to live on, soil to grow on and water to drink from. She bears the mistreatment of her children towards the earth and climate.
Sometimes the Goddess loses her patience and calls upon her lord - Shri Hari Vishnu to punish the children and provide her relief. Vishnu does so by taking various incarnations or 'avatars'.
In the guise of Lord Ram or Lord Krishna, Vishnu restores balance in nature and establishes the law of 'Dharma' or right conduct.
Some times the Goddess Vasudha Lakshmi takes control of the situation herself. She restores balance in the system by causing earth quakes, floods, volcano eruptions etc. Her lesson is simple - that one must respect nature if nature is to provide abundance to humanity.
In normal times, Goddess Bhoodevi, showers great abundance in giving us land, food, air and water with great patience and love.