Question

Write about the utility and value of resources.

Answer 1

The utility is what makes an object or substance a resource. The factors that determine the utility of any natural resources foremost are ‘human beings’ because only they have the ability to recognise any substances as resources, Utility simply means the ability to satisfy a want. A cigarette has a utility to the smoker but it is injurious to his health. Resources are anything that has utility and adds value to your life. The value of each such resource depends on its utility and other factors. For example, silver and gold have economic value; i.e. they can be exchanged for money.