Define resource . How are resource classified?
Resource refers to any natural or artificial material or substance that has utility and economic value. It can be classified based on various criteria, such as origin, renewability, stage of development, and ownership.
Classification of Resources:
1. Natural Resources:
Natural resources are materials and substances that exist in the environment without human intervention. They can be classified as:
- Renewable resources: These resources can be replenished naturally or through human intervention. Examples include solar energy, wind energy, and water.
- Non-renewable resources: These resources cannot be replenished once they are used up. Examples include fossil fuels such as coal, oil, and natural gas.
2. Human-made Resources:
Human-made resources are materials and substances that are created by humans for various purposes. They can be classified as:
- Infrastructure: These are the basic facilities and systems that enable economic activity. Examples include roads, bridges, and buildings.
- Industrial resources: These are materials and substances that are used in the production of goods and services. Examples include machinery, tools, and equipment.
- Knowledge resources: These are intangible resources that include knowledge, skills, and expertise. Examples include education and training.
3. National Resources:
National resources are those resources that belong to a country or a nation as a whole. They can be classified as:
- Private resources: These are resources that are owned by individuals or private entities. Examples include private land and buildings.
- Public resources: These are resources that are owned by the government or public entities. Examples include public land and buildings.
In conclusion, resources are essential for economic growth and development. They are classified based on various criteria, such as origin, renewability, stage of development, and ownership. Understanding the classification of resources helps in their management and sustainable use.
Define resource . How are resource classified?
Everything in our environment that can be used to satisfy our needs, which is technologically accessible economically feasible and culturally acceptable can be termed as resource. Resource can be classified on the basis of exhaustibility, ownership, status of development, origin
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