Definition
We can classify Resources in 4 types:
On the basis of Origin
This means the source where the resource is obtained from.
Biotic Resource
Biotic Resources are obtained from nature.
- Examples of biotic - Livestock, forests, humans.
Abiotic Resource
These are composed of non-living things
- Examples of abiotic - rocks and minerals.
On the basis of exhaustibility.
Whether the resource can get finished or not.
These are divided into:
Renewable Resource
Non-Renewable Resource
On the basis of Ownership
Private / Individual
Yes, it is private property, not shared. For example, homes, cars, etc.
Community
Which are shared and maintained by the community For example, marketplace, shops?
National
Well, sanctuaries, lands, which are national property. also 12 nautical miles of sea
International
Beyond national sea limits, space, etc.
On the basis of Development
Potential Resource
Which has the potential to be used as a resource, but in the future. For example, students.
Developed Resource
Which are developed and are in use. For example, teachers or the productive workforce.
Stock Resource
These are the resources which are potential but cannot be used due to limitations in technology, research, etc.
Reserved Resources
They are the resources which are not yet used. (Like Potential)