The value and the utility of resource change place to place and time to time.Justify the statement
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The resource say oil is valuable and usable if consumption is high and supply is constant. However, in regions of abundance availability of shale gas, oil has no significance. Also, when the oil being non-renewable resource get exhausted, its value would be degraded. So, the statement is correct that the value and utility of resource vary with place and time.
Explanation:
- Anything becomes resource based on the value and utility. For example, uranium became resource when utilized for generating electricity.
- Technology and time make the potential resource a valuable one. For example, tidal energy and solar energy.
- Sometimes, the limited stock and localised availability of resource create a demand for new resource.
- Human being is valuable resource when education and health play major role in their cognitive development over a time.
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