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Questions and Answers
What is the primary characteristic of actual resources?
What can be inferred about potential resources?
What do actual resources include?
What is a characteristic of potential resources?
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Why are potential resources not currently utilized?
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What is a difference between actual resources and potential resources?
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What is the main distinction between actual resources and potential resources?
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What type of resources are being actively used or exploited?
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What is an example of a potential resource?
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Why are certain resources considered potential resources?
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What is a characteristic that distinguishes actual resources from potential resources?
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What type of survey can help identify potential resources?
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What is an example of an actual resource?
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What is the main reason potential resources are not currently utilized?
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Study Notes
Classification of Resources
- Resources can be classified into two categories: actual resources and potential resources.
Actual Resources
- Also known as known resources.
- Currently being utilised and available for immediate use.
- Have been identified, assessed, and are being actively used or exploited.
- Examples include:
- Natural resources: minerals, fossil fuels, forests, agricultural land, water sources, and wildlife.
- Human resources: existing workforce with their skills, knowledge, and labour.
- Are tangible (can be seen to exist) and have been incorporated into economic activities or processes.
Potential Resources
- Also known as undiscovered or unexploited resources.
- Believed to exist but have not yet been fully identified or utilised.
- Have the potential to be developed or extracted in the future as technology advances, knowledge expands, or demand increases.
- Examples include:
- Undiscovered mineral deposits.
- Untapped renewable energy sources.
- Unexplored areas for agriculture or forestry.
- Untrained or underutilised human resources.
- Existence or value may be inferred based on geological surveys, scientific research, or projections.
Classification of Resources
- Resources can be classified into two categories: actual resources and potential resources.
Actual Resources
- Also known as known resources.
- Currently being utilised and available for immediate use.
- Have been identified, assessed, and are being actively used or exploited.
- Examples include:
- Natural resources: minerals, fossil fuels, forests, agricultural land, water sources, and wildlife.
- Human resources: existing workforce with their skills, knowledge, and labour.
- Are tangible (can be seen to exist) and have been incorporated into economic activities or processes.
Potential Resources
- Also known as undiscovered or unexploited resources.
- Believed to exist but have not yet been fully identified or utilised.
- Have the potential to be developed or extracted in the future as technology advances, knowledge expands, or demand increases.
- Examples include:
- Undiscovered mineral deposits.
- Untapped renewable energy sources.
- Unexplored areas for agriculture or forestry.
- Untrained or underutilised human resources.
- Existence or value may be inferred based on geological surveys, scientific research, or projections.
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Description
Learn about the classification of resources into actual and potential resources, and understand the characteristics of each type.
