Resource

Resource

A resource is a source or supply from which a benefit is produced and that has some utility. Resources can broadly be classified upon their availability — they are classified into renewable and non-renewable resources. They can also be classified as actual and potential on the basis of the level of development and use, on the basis of origin they can be classified as biotic and abiotic, and on the basis of their distribution, as ubiquitous and localized (private resources, community-owned resources, natural resources, international resources).

Types of Resources

Renewable Resources

Renewable resources are those that are replenished naturally and over relatively short periods of time. This includes resources like sunlight, air, wind, and biomass.

Non-renewable Resources

Non-renewable resources are those that do not renew themselves at a sufficient rate for sustainable economic extraction in meaningful human timeframes. Examples include minerals, petroleum, natural gas, and coal.

Actual and Potential Resources

Actual resources are those that have been surveyed, their quantity and quality determined, and are being used in present times. Potential resources are those that exist in a region and can be used in the future.

Biotic and Abiotic Resources

Biotic resources are obtained from the biosphere, such as forests and animals, and the materials that can be obtained from them. Abiotic resources comprise non-living things, such as land, water, air, and ores such as gold, iron, copper, silver.

Ubiquitous and Localized Resources

Ubiquitous resources are found everywhere (e.g., air, light, water). Localized resources are found only in certain parts of the world (e.g., petroleum and iron ore).

Economic Theory

In economic theory, a resource is defined as a service or other asset used to produce goods and services that meet human needs and wants.

See Also

• Natural resource
• Human resource
• Economic resource
• Resource management