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InterviewSolution
| 1. |
Write two characteristics of resources |
| Answer» Resorces are scarce or limited and have alternative uses<br>Resources can be classified in the following ways– (a) On the basis of origin – biotic and abiotic (b) On the basis of exhaustibility – renewable and non-renewable (c) On the basis of ownership – individual, community, national and international (d) On the basis of status of development – potential, developed stock and reserves.\xa0Resources\xa0have three main\xa0characteristics\xa0namely 1) Utility, 2) Limited availability, 3) Potential for depletion or consumption. Scarcity is the fundamental economic problem of having humans who have unlimited wants and needs in a world of limited\xa0resources.<br>\tScarcity: Resources are scarce in relation to their wants.\tAlternative uses: Resources have alternative uses. For example, land may be used for agricultural activity or for industrial purpose.\xa0 | |