What is a unique resource?
Unique resources are those resources that create competitive advantage and that others cannot imitate or obtain. Examples of unique resources are: brand. situation, for example, near a source of raw material or a source of cheap labour. sunk costs.
What are the 2 types of natural resources?
Natural resources are substances that occur naturally. They can be sorted into two categories: biotic and abiotic. Biotic resources are gathered from the biosphere or may be grown. Abiotic resources are non-living, like minerals and metals.
How can we conserve natural resources essay?
Alternative resources or renewable resources like solar energy or water energy should be used. Saving electricity can be a step to conserve natural resources such as water, coal, natural gases and biomass. Basic practices like switching off fans, lights, geysers and air conditioners must become a habit.
What is the important of resource?
Resources are important for the development of any country. For example, to generate energy, one need fossil fuels; and for industrial development, we require mineral resources. Irrational consumption and over utilisation of natural resources has led to socio-economic and environmental problems.
What is the most important economic resource?
Human resources are required, to some extent, in the production of all goods and services. In fact, human resources are our most important economic resource. They combine the other resources to produce goods and services.
How do you classify resources?
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 …
How do we use natural resources wisely?
How to Cut Packaging and Food Waste at Home
- Plan your weekly meals to waste less food.
- Only buy food on your shopping list.
- Start a compost pile.
- Cut down on processed foods in your cupboards.
- Pack your lunch with reusable containers.
- Skip fast food.
- Reuse water bottles and plastic bags.
What are natural resources class 9?
Introduction to Natural Resources The resources of the earth are land, water and air. Other resources include fossil fuels, sunlight, wind, minerals, etc. Biotic factors are referred to as living things in the ecosystem. Air, water and soil form the non-living or abiotic components of the biosphere.
What are the 3 categories of natural resources?
Natural resources can be classified as potential, actual, reserve, or stock resources based on their stage of development. Natural resources are either renewable or non-renewable depending on whether or not they replenish naturally.
What are the five economic resources?
Land, labor, capital, and entrepreneurial ability which are used in the production of goods and services. They are economic resources because they are scarce (limited in supply and desired). Also called the factors of production.
What are natural resources paragraph?
A natural resource is what people can use which comes from the natural environment. Examples of natural resources are air, water, wood, oil, wind energy, natural gas, iron, and coal. Petroleum and iron ores are natural, but need work to make them into usable refined oil and steel.
What is another name for economic resources?
Another, more common, name for economic resources is factors of production–labor, capital, land, and entrepreneurship. Labor includes the mental and physical human efforts. Capital includes machinery, equipment, buildings, and structures. Land includes naturally occurring raw materials.
What are key natural resources?
Natural resources are materials and substances that occur naturally and can be used for economic gain. They include minerals, forests, fertile land, and water. Some natural resources, such as soil and water, are essential for the existence of life.