Give classification of resources on different basis
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The three types of economic resources are also referred to as factors of production. Land (including all natural resources), Labor (including all human resources), Capital (including all man-made resources), and when you combine all of those you get production.
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Answer:
The various types of resources are classified as follows:
1) On the basis of origin
a) Biotic resources
b) Abiotic resources
2) On the basis of exhaustibility
a) Renewable resources
b) Non-renewable resources
3) On the basis of ownership
a) Individual resources
b) Community owned resources
c) National resources
d) International resources
4) On the basis of status and development
a) Potential resources
b) Developed resources
c) Stock
d) Reserves
Explanation:
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