Answer:
Resources are anything that has utility and adds value to your life. Air, water, food, plants, animals, minerals, metals, and everything else that exists in nature and has utility to mankind is a ‘Resource’. The value of each such resource depends on its utility and other factors. For example, metals are gold, silver, copper or bronze have economic value; i.e. they can be exchanged for money. However, mountains, rivers, sea or forests are also resources but they do not have economic value.
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There are two most important factors that can turn any substance into a resource- time and technology. With the help of technology, innovation humans can transform a natural or man-made substance into a resource. Like, minerals, fish or other marine creatures sourced from the sea can be used for our food and medicines. Similarly, time also adds to the value of a resource. For example, fossil deposits of organisms over hundreds of years can turn into fossil fuels.
Explanation:
Biotic & Abiotic
Any life form that lives within nature is a Biotic Resource, like humans, animals, plants, etc. In contrast, an abiotic resource is that which is available in nature but has no life; like metals, rocks, and stones. Both biotic and abiotic resources can be renewable or non-renewable.
Renewable & Non-renewable
Renewable resources are almost all elements of nature which can renew themselves. For e.g. sunlight, wind, water, forests and likewise. While, non-renewable resources, are limited in their quantity. Like fossil fuels and minerals. Though these resources take millions of years to form, they would eventually get over within our lifetime if we use continuously.
