Characteristics of resources development
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Resources characteristics:
Resources have three main characteristics namely
1) Utility
2) Limited availability
3) Potential for depletion or consumption.
Scarcity is the fundamental economic problem of having humans who have unlimited wants with limited resources.
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- Usefulness.
- Limited.
- All resources are inter -related.
- Managerial process applicable to all resources.
- Quality of life is determined by the use of resources.
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