resources

Topics: Renewable resource, Natural resource, Resource Pages: 3 (710 words) Published: January 21, 2014

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. Natural resources are derived from the environment. Many natural resources are essential for human survival, while others are used for satisfying human desire. Conservation is the management of natural resources with the goal of sustainability. Natural resources may be further classified in different ways.[1]

Resources can be categorized on the basis of origin:

Abiotic resources comprise non-living things (e.g., land, water, air and minerals such as gold, iron, copper, silver). Biotic resources are obtained from the biosphere. Forests and their products, animals, birds and their products, fish and other marine organisms are important examples. Minerals such as coal and petroleum are sometimes included in this category because they were formed from fossilized organic matter, though over long periods of time.

Natural resources are also categorized based on the stage of development:

Potential Resources are known to exist and may be used in the future. For example, petroleum may exist in many parts of India and Kuwait that have sedimentary rocks, but until the time it is actually drilled out and put into use, it remains a potential resource. Actual resources are those that have been surveyed, their quantity and quality determined, and are being used in present times. For example, petroleum and natural gas is actively being obtained from the Mumbai High Fields. The development of an actual resource, such as wood processing depends upon the technology available and the cost involved. That part of the actual resource that can be developed profitably with available technology is called a reserve resource, while that part that can not be developed...
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