1. Resource & Development
Everything available in our environment which can be used to satisfy our needs, provided it is technologically accessible, economically feasible and culturally acceptable can be termed as Resource. (a) Importance of Resources :
(i) Resources form the backbone of the economy of the nation.
(ii) Resources form the base for economic strength & prosperity.
(iii) By utilising natural resources, humans have created their own world of living. (b) Characteristics :
(i) Resources have utility.
(ii) Resources are normally available in limited quantity.
(iii) Man has to make efforts to get utility from the resources.
(iv) Resources help us to create goods or provide services.
(v) Utility of a resource or its usability changes with improvement in science and technology.