Question

Classify the resources on the basis of development. Explain the differences between them.

Answer 1

On the basis of development, resources can be classified into four main groups: Potential resources, developed resources, stock resources and reserve resources.

i) Potential Resources - These are resources that have been found in a region but not yet been fully utilised.

ii) Developed Resources - These are resources which have been surveyed and their quality and quantity have been determined for utilisation.

iii) Stock- Stock are the materials in the environment which have the potential to satisfy human needs.

iv) Reserves - These are stocks of resources that can be put to use with existing technology