What are the Resources on the Basis of Ownership?
By Balaji
Updated on: February 17th, 2023
Resources on the basis of ownership are divided into four major categories, national, international, individual, and community-owned. Different types of resources have different functions which are important for sustaining society and life. It is important to know the classification of resources based on ownership to understand their use so that maximum benefit can be obtained from them.
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1. Resources on the Basis of Ownership
Resources on the Basis of Ownership
On the basis of ownership, resources are classified into the following categories. These categories are further divided to regulate and ensure the proper use of resources:
National Resources: These are the resources that are owned by a certain nation. These resources are controlled by the government – national or state. For example, forests, minerals, land within political boundaries, wildlife, sea areas up to 12 nautical miles from the coast, etc.
International Resources: These resources are owned by international organisations and cannot be claimed or used by any country without permission. For example, marine resources of more than 200 km of Exclusive Economic Zone. It cannot be owned or used by any one specific country.
Personal Resources: These are those resources that are payable by individuals in their personal capacity, like cars, houses, jewelry, plot, farms, etc.
Community Owned Resources: These are the resources that are available to the individuals belonging to a community for their use. These resources include public parks, cemeteries, picnic stops, etc., that are open to the public.
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