Resources are anything that can be used to satisfy a need or has value. They can be classified into three types: natural resources, man-made resources, and human resources. Natural resources are those that are found in nature, such as water, air, and minerals. Man-made resources are those that are created by humans, such as buildings, roads, and machines. Human resources refer to the number and abilities of people.

Resources have value or worth, which can change over time. Some resources have economic value, while others do not. Some may become valuable only over a period of time. For example, your grandmothers home remedies may not have commercial value at present, but if they are patented and sold, they could also become economically valuable.

Resources can also be classified based on their development, origin, distribution, and stock. On the basis of their stock, resources are classified as renewable resources and non-renewable resources. Renewable resources can be used without any risk of their ending up, such as solar energy and wind energy. Non-renewable resources are those which have a limited stock, such as coal and oil. Once the stocks are exhausted, it may take thousands of years to be renewed or replenished.

In summary, a resource is anything that can be used to satisfy a need or has value. They can be classified into three types: natural resources, man-made resources, and human resources. Resources have value or worth, which can change over time. They can also be classified based on their development, origin, distribution, and stock.