RESOURCES

A resource is a source or supply from which a benefit is

produced and that has some utility. It has a physical or
virtual entity. Resource has a value and is controlled by
supply and demand.

Classification of Resources

1. Natural Resource
2. Human Resource

Natural resources are valuable to us. Natural resources are

derived from environment. Most of them are essential for
our survival.

On the basis of origin, resource may be divided into:

1. Biotic : Biotic resources are obtained from Biosphere.

Forests & their products, Animal, Birds, Fish etc.
formed from the living things.
2. Abiotic: Abiotic resources comprise non-living things.
Air, water, Land, Minerals like Gold, Iron, Coal, Copper,
Silver etc.

On the Basis of Stage of Development, Natural Resources

may be called:-

1. Potential Resources:- Exists in a region & may be used

in future. For example; Coal, Mineral Oil, Natural Gas
etc.
 2. Stock: How much is there? Use of Technology.
3. Reserved Resources: Subset of Stock.
4. Actual Resources: Actual Resources.

The broadest classification of resources is done on the

basis of their replenishing ability. Let us take a look, at
these Three classifications.

1. Renewable Resources

2 Non Renewable Resources

3. Conditionally Renewable Resources

1. Renewable resources

When talking about classification of resources, we will first

see the renewable resources. Renewable resources are
those resources that can be replenished or renewed
naturally over time. Air, water, wind, solar energy etc are
all renewable resources. Renewable resources can be
easily renewed by nature. Renewable resources afford us
the opportunity to be self-sustaining through our own
efforts.

3. Non-Renewable Resources

Nonrenewable resources are resources that have a limited

supply. More than that, these resources can't be replaced
by natural means at a pace that meets its consumption. A
lot of our fossil fuels, such as oil, are nonrenewable
resources. In other words, if we keep using them, they will
eventually run out.
The supply of nonrenewable comes from the Earth itself.
However, since it typically takes millions of years to
develop, these resources are finite. Nonrenewable energy
can generally be separated into two main categories: fossil
fuels and nuclear fuels.

4. Conditionally Renewable Resources

Depend on quantity & consumption. In Agricultural Areas,

Fish, Forests, etc.

On the Basis of Distribution, Natural Resources can be

Classified into:-

1. Localised:- Can be found in certain parts of the world.

2. Ubiquitous: - Can be found everywhere – Air, Water,

Sunrays etc

Resources may be split into Tangible Resources &

Intangible Resources: -

Tangible Resources: Like equipment’s, vehicles that is

have physical existence.

Intangible Resources:- Corporate Images, Brand and

Petents.