utility and value of resources vary from time to time and place to place. give any three example to support the statement
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Utility and value of a resource 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, before the advents in solar technology. The same resource are consumed scarcely 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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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, before the advents in solar technology. The same resource are consumed scarcely 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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utility and value of a resource varies from time to time and place to place.
1)earlier human civilization florist along the river valleys as they use water for irrigating feilds
2)now, human beings are using water for generating energy irrigation navigation and industries etc.
3)China and United States of America are generating more wind energy than India.
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