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Define the Term Resource
By BYJU'S Exam Prep
Updated on: September 25th, 2023
Anything available in the environment and capable of fulfilling our needs can be recognised as a resource. However, a resource must be technically accessible, culturally relevant and economically viable. There are different types of resources, but the two main classifications include:
- Natural resources
- Human resources
Read further to learn more about the different types of resources that we make use of on a daily basis.
Table of content
Answer:
Anything that is available in the environment and can be used to meet human needs is called a Resource
Now let’s discuss the types of resources available to us and how they are further classified in detail.
Natural Resources
As the name suggests, natural resources are found in nature and are either renewable or non-renewable. Renewable resources are those which can be replenished and reproduced through chemical, physical, biological and mechanical processes. On the other hand, non-renewable resources, such as petroleum, coal, oil and natural gas, cannot be reproduced or take a million years to replenish.
Human Resources
Unlike natural resources, human resources are not found in nature and are created by human efforts. It can be a group of people who make up the workforce of an organisation or the business sector of a country that adds to its economy. Human resources can also be further classified into two broad categories:
- Quantity and quality
- Structures and institutions
Summary:
Define the Term Resource
A resource is anything that can be used to fulfil human needs and desires. They can be broadly classified into natural and human resources. Natural resources are those that are found in nature, whereas human resources are created by human efforts.
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