Podcast
Questions and Answers
What is the primary characteristic of actual resources?
What is the primary characteristic of actual resources?
What can be inferred about potential resources?
What can be inferred about potential resources?
What do actual resources include?
What do actual resources include?
What is a characteristic of potential resources?
What is a characteristic of potential resources?
Signup and view all the answers
Why are potential resources not currently utilized?
Why are potential resources not currently utilized?
Signup and view all the answers
What is a difference between actual resources and potential resources?
What is a difference between actual resources and potential resources?
Signup and view all the answers
What is the main distinction between actual resources and potential resources?
What is the main distinction between actual resources and potential resources?
Signup and view all the answers
What type of resources are being actively used or exploited?
What type of resources are being actively used or exploited?
Signup and view all the answers
What is an example of a potential resource?
What is an example of a potential resource?
Signup and view all the answers
Why are certain resources considered potential resources?
Why are certain resources considered potential resources?
Signup and view all the answers
What is a characteristic that distinguishes actual resources from potential resources?
What is a characteristic that distinguishes actual resources from potential resources?
Signup and view all the answers
What type of survey can help identify potential resources?
What type of survey can help identify potential resources?
Signup and view all the answers
What is an example of an actual resource?
What is an example of an actual resource?
Signup and view all the answers
What is the main reason potential resources are not currently utilized?
What is the main reason potential resources are not currently utilized?
Signup and view all the answers
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.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Learn about the classification of resources into actual and potential resources, and understand the characteristics of each type.
