Man of all the resources available
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Types of Resources
Resources is a very broad term, it is basically anything that can be considered a valuable addition. Anything from air to gold is all resources. Let us take a look at the two broad types of resources – natural resources and man-made resources
Resources are anything that has utility and adds value to your life. Air, water, food, plants, animals, minerals, metals, and everything else that exists in nature and has utility to mankind is a ‘Resource’. The value of each such resource depends on its utility and other factors. For example, metals are gold, silver, copper or bronze have economic value; i.e. they can be exchanged for money. However, mountains, rivers, sea or forests are also resources but they do not have economic value.
There are two most important factors that can turn any substance into a resource- time and technology. With the help of technology, innovation humans can transform a natural or man-made substance into a resource. Like, minerals, fish or other marine creatures sourced from the sea can be used for our food and medicines. Similarly, time also adds to the value of a resource. For example, fossil deposits of organisms over hundreds of years can turn into fossil fuels.