What are the Resources on the Basis of Ownership?

By Ruchika|Updated : August 16th, 2022

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 to sustain society and life. Classification of resources on the basis of ownership is important to know in order to understand their use in order to derive maximum benefit from them.

Resources on the Basis of Ownership

On the basis of ownership, resources are classified into the following categories. These categories are divided to regulate and ensure proper utilisation 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 the political boundaries, wildlife, the oceanic area up to 12 nautical miles from the coast, etc.
  • International Resources - These resources are owned by international organisations and no individual country can lay claim or use these without permission. For example, oceanic resources beyond 200 km of the Exclusive Economic Zone. It cannot be owned or used by any one specific country.
  • Individual Resources - These are the resources owed by individuals in their own personal capacity such as cars, houses, jewellery, plots, farms, etc.
  • Community-owned Resources -These are the resources that are available to individuals belonging to a community for their use. These resources include public parks, burial grounds, picnic stops, etc. that are open to the public.

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FAQs

  • Ownership of resources is decided based on whether they are owned by an individual, community, nation or are owned internationally. This helps in optimal usage of resources.

  • The four types of resources based on ownership are national, international, individual or community-owned. Each resource plays a specific function and has its own use.

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