LS23 6AD, Tel: +44 0844 800 0085 Both tangible resources, i.e., property, money, wealth, and intangible resources, i.e., knowledge, wisdom, health etc. Report a Violation, Important Ideas/ Concepts Developed in Economy, Economic Resources: Definition and Significance, Top 3 Resource Creating Factors (With Diagram). To combat this, emergence of socialism, communism again increased the differences between different schools of thought. All students preparing for mock exams, other assessments and the summer exams for AQA A-Level Geography. Development is the process of growth, or changing from one condition to another. Different minerals like iron ore, copper, bauxite, different fuels like coal, petroleum etc. With the passage of time, with increasing knowledge, man was able to harness more resource from same amount of stuff. In economics, development is change from a traditional economy to one based on technology.. A traditional economy usually centers on individual survival. In fact, resources evolve out of the dynamic interaction of all these factors”. So, resource creation process is not static, it is dynamic in nature. Physical boundaries include oceans, cliffs, or valleys. This means that what is considered a resource can change over time: oil, for example, was not considered such a valuable resource until the late 19 th century onwards. However, after critical examinations and analyses all these meanings can be grouped into two, i.e., resources may help us if we are: The first is a positive approach, the second role of resource is, surely, negative. Resource cannot be created. The role of man was grossly underestimated in earlier times. Before publishing your articles on this site, please read the following pages: 1. Resource can be subjective as well as objective. 2. He has written extensively about teaching and geography - with articles in the TES, Geography GCSE Wideworld and Teaching Geography. This inverse relationship is the key issue in the overall scheme of resource creation. Previously ocean current was never considered as resource but, now, man is able to convert this force into energy. Prof. Zimmermann’s inimitable definition runs: “The word resource does not refer to a thing or a substance but to a function which a thing or a substance may perform or to an operation in which it may take part, namely, the function or operation of attaining a given end such as satisfying a want. Resources - Any part of the environment that can be used to meet human needs. Meaning of Resource 2. Considering resource a static or fixed asset was another misconception in those days. If these are exploited too intensively such that they can no longer be renewed, then they become stock (non-renewable) resources. The above definitions vary markedly and fail miserably to produce any comprehensive universally accepted meaning of resource. Reach the audience you really want to apply for your teaching vacancy by posting directly to our website and related social media audiences. Prohibited Content 3. Geo-thermal energy in this contemporary world is considered to be the most useful resource, but, till recently, this heat-flow was not considered as resource—because man was absolutely ignorant about its uses. Subjective resource denotes internal resource, objective resource is external resource. Man is, of course, the most important and integral part of resource creation, as he is situated in the top of the hierarchy of resource consumption. 4. 3. In day-to-day life, a common man often uses the terms resource and wealth for same purpose and meaning. Without any operational process, a thing or substance remains neutral, resource cannot be created and what is created now may be enhanced or increased with increasing knowledge.
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