What is meant by resources? Mention the four basis to classify the resources.
Everything available in our environment which can be used to satisfy our needs is called a resource. It should be technologically accessible, economically feasible and culturally acceptable. Only then, it can be termed as a ‘Resource’.
Resources can be classified in the following four ways :
On the basis of origin:
On the basis of exhaustibility:
On the basis of ownership:
On the basis of status of development: