Write two characteristics of resources
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Posted by Keshav Patidar 5 years, 4 months ago
- 3 answers
Meghna Thapar 5 years, 4 months ago
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 reserves. Resources have three main characteristics namely 1) Utility, 2) Limited availability, 3) Potential for depletion or consumption. Scarcity is the fundamental economic problem of having humans who have unlimited wants and needs in a world of limited resources.
Yogita Ingle 5 years, 4 months ago
- Scarcity: Resources are scarce in relation to their wants.
- Alternative uses: Resources have alternative uses. For example, land may be used for agricultural activity or for industrial purpose.
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Mansi Gupta 5 years, 3 months ago
0Thank You