What are Resource?
How resources can be classified on the basis of Status of Development,?.
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Explanation:
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Answer:
A resource is a source or supply from which a benefit is produced and that has some utility. Resources can broadly be classified upon their availability — they are classified into renewable and non-renewable resources.
Resources are classified on the basis of status of development in the following categories:
i) Potential Resources - These are resources that have been found in a region but not yet been fully utilised.
ii) Developed Resources - These are resources which have been surveyed and their quality and quantity have been determined for utilisation. The development of these resources depends upon technology and feasibility.
iii) Stock- Stock are the materials in the environment which have the potential to satisfy human needs. However, human beings do not have the appropriate technology to access these resources.
iv) Reserves - These are stocks of resources that can be put to use with existing technology. However, their use has not yet been started. They can be used to meet future requirements.