How does a resource become reserve? Answer in 50-70 words
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All the elements in nature which humans need and value are known as resources. They can be classified into potential and actual resources, based on their stages of development.
A reserve is a portion of actual resource which can be developed profitably with the available technology.
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Resources are all the elements that humans need and value. Resources are scarce in nature so they must be used wisely. A resource becomes reserve when it’s intrinsic value rises and the marginal utility rises. Then they are turned to reserve to be used later by a more advanced technology. Reserve of a resource means which is accessible to be used by the economy.
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