Question

Provide a suitable classification for resources on the basis of ownership. Mention the main features of any three types of such resources.

Answer 1

Answer:

On the basis of ownership resources can be classified into 4 different types which are listed below:

1. International resources
2. National resources
3. Community resources
4. Individual resources

International Resources

• Some resources are regulated by the International institutions.
• Without the approval of international institutions, no individual country can utilize the oceanic resources which are located beyond 200 nautical miles of the Exclusive Economic Zone.
• These resources are part of the open ocean.

National Resources

• These are the resources that only belong to a nation.
• All the minerals or resources that belong to the oceanic area up to 12 nautical miles (22.2 Km) from the coast of a nation, the land resources within the political boundaries of a nation, wildlife, forests, water resources within a nation belong to the nation.
• For public good, the country has the power to take over even the private property, it won’t be forceful acquisition but financial compensation would be paid.
• Such lands will be acquired by the Government to build roads, railways, canals, etc.

Community Owned Resources

• When the resources are available to all members of the community, it is known as Community owned resources.
• Examples of community owned resources are village ponds, picnic spots, public parks, grazing ground, etc.