Question
Explain the classification of resources on the basis of ownership.
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Answer
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Individual Resources: These are also owned privately by individuals. For example, land owned by farmers.
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Community-owned Resources: There are resources which are accessible to all the members of the community. For example, grazing grounds, burial grounds, village ponds, public parks, picnic spots, playgrounds, etc.
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National Resources: The resources but that belong to the nation. For example, roads, canals, railways, all the minerals, water resources, forests, wildlife, land within the political boundaries and oceanic area up to 12 nautical miles (19.2km) from the coast termed as territorial waters and resources therein belong to the nation.
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International Resources: The resources that do not belong to any individual country. For example, the oceanic resources beyond 200km of the Exclusive Economic Zone belongs to open ocean and no individual country can utilise these without the decision of international institutions. There are international institutions to regulate such resources.
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