Question

1. Define resource. Explain the classification of resource on the basis of its exhaustibility, ownership and the status of development examples.

Answer 1

Resource-

resource means something that is ready to use if or when it is needed.

An example of resource

like extra money in a saving account.

Answer 2

Resources are classified on the basis of status of development in the following categories: i) Potential Resources - These are resources that have been found in a region but not yet been fully utilised. ... iv) Reserves - These are stocks of resources that can be put to use with existing technology