Question: What Is Resource Give Some Examples?

What is difference between potential and actual resources?

Actual Resources are those which have been surveyed, their quantity and quality determined and are being used in present times.

Potential Resources: Potential Resources – Potential resources are resources which exist in a region and which can be used in the future.

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What are two resources examples?

11 Examples of ResourcesKnowledge. Knowledge such as know-how.Labor. The productive capacity of people.Land. Space for nature, living, commercial activity, agriculture and energy production.Natural Resources. Air, water, trees, minerals and other resources that come from the natural environment.Energy. … Technology. … Services. … Finance.More items…•

What are the 5 types of resources?

Natural ResourcesBiotic & Abiotic. Any life form that lives within nature is a Biotic Resource, like humans, animals, plants, etc. … Renewable & Non-renewable. Renewable resources are almost all elements of nature which can renew themselves. … Potential, Developed, and Stock Resources.

What are the major types of resources?

Types of Resources: Resources are usually classified into three types, viz. natural, human made and human resources. Natural Resource: Resources which are obtained from nature are called natural resources.

What is resource in simple words?

The Simple English Wiktionary has a definition for: resource. A Resource is something that can be used for a purpose. For example, tools and materials are resources. There are many kinds of resource: Resource (Types and Developments), any natural or human wealth that can be used for satisfying human needs.

What are the classification of resources?

Resources can be classified in the following ways– (a) On the basis of origin – biotic and abiotic (b) On the basis of exhaustibility – renewable and non-renewable (c) On the basis of ownership – individual, community, national and international (d) On the basis of status of development – potential, developed stock and …

What are the three main types of resources?

In general, there are three types of resources or sources of information: primary, secondary, and tertiary.

What are 20 natural resources?

Natural Resources by CountryBauxite.Coal.Copper.Diamonds.Gold Lead.Iron ore.Mineral sands.Natural gas.More items…

What is potential resources in short?

Definition. The resources that are available in a particular region and can be utilized in the future are known as potential resources. The exact quantity and quality of the resource are unknown. To make the best use of these resources, advanced technology is required.

What type of resources is money?

Money isn’t an economic resource. You can say it’s a resource that one needs to purchase supplies that will eventually go into the creation of goods and rendering of services. What we have as factors of production includes land, labor, capital, and entrepreneur.

What are examples of stock resources?

Examples of stock resources include fossil fuels (coal, oil, gas) as well as minerals such as gold, copper, tin, uranium etc. In contrast to stock resources, flow resources are renewed within a short timescale, either through natural physical systems or biotic reproduction.

What is chronological resource explain with example?

The definition of chronological is arranged in the order it happened. An example of chronological is a biography that starts in 1920 and goes through 1997. … He is 67 in chronological age, but has the mind and body of someone 55.

What is the main purpose of resources?

resource. An economic or productive factor required to accomplish an activity, or as means to undertake an enterprise and achieve desired outcome. Three most basic resources are land, labor, and capital; other resources include energy, entrepreneurship, information, expertise, management, and time.

What is a resource answer?

A resource is a source or supply from which a benefit is produced. Resources can broadly classified upon their availability—they are classified into renewable and non renewable resources. … From a human perspective a natural resource is anything obtained from the environment to satisfy human needs and wants.

What are potential resources give example?

Some examples of these resources are natural oil reserves of the Middle East, the hydroelectric power of Niagara Falls, iron ore deposits of Madhya Pradesh, petroleum and natural gas in West Asia and India’s Mumbai High, dark soils in Deccan plateau and rich coal deposits in Germany.

What are the 4 types of resources?

The factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.

What are the 10 natural resources?

Top 10+ Natural Resources in the WorldWater. While the earth may be mostly water, only about 2-1/2 percent of it is freshwater. … Air. Clean air is necessary for the existence of life on this planet. … Coal. Coal is estimated to be able to last less than 200 more years. … Oil. … Natural gas. … Phosphorus. … Bauxite. … Copper.More items…