Question

"Utility and value of a resource vary from time to time and place to place". Give any three examples to
support the statement.​

Answer 1

Answer:

utility and value of a resourse varies from time to time and place to place . Time and technology are the two factors that change the value of substances and make them resources .

Time: With new technology ,the resources hitherto available can gain new utility and hence value . For example , in the case of solar power - though sunlight was freely available , sunlight had no utility in terms of generating power technology , sunlight now has much higher utility.

Place: the value of resources varies from place to place . the resources that are plentifully available in a region are consumed scarely in places where they are not found amply . the value of the same resource in two such places will be different .

For example , the price and the value of oil in UAE are much lower than that of india since UAE has much higher reserves of the resource .

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Answer 2

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Utility and value of a resource varies from time to time and place to place. Earlier human civilisation flourished along the river valleys as they used water for irrigating fields. Now, human beings are using water for generating energy, irrigation, navigation and industries etc.