What is the difference between a reserve and a resource?

A resource is that amount of a geologic commodity that exists in both discovered and undiscovered deposits—by definition, then, a “best guess.” Reserves are that subgroup of a resource that have been discovered, have a known size, and can be extracted at a profit.

What is a reserve in resource?

Reserves are deposits of natural resources like fuels, elements, and minerals that are known to exist with a reasonable level of certainty based on geological and engineering studies. These reserves are also recoverable economically with technologies that currently exist.

What is the difference between resources and reserves Class 10?

But these resources could be used in future. For example, uranium present in Ladakh is a potential resource which could be used in the future. Reserves are the sources which have been recognized and are completely maintained for present and future application. These are resources whose total amount is known.

How does a resource become a reserve?

Answer: Answer: The resource become a reserve due to the change in its utility and value. It is because the ultimate use of a mineral reserve is either to be physically worked out or made non-viable because of the changing economic, environmental, technological, and social circumstances.

What are reserves and resources explain with example?

Reserve resources are those resources which we know their use and how to use them but we have kept them for future use. For example, USA has plenty of oil and gas reserves but it imports oil and gas and has kept its own reserves for future use.

What is the difference between a resource and a reserve geology?

A resource is that amount of a geologic commodity that exists in both discovered and undiscovered deposits—by definition, then, a “best guess.” Reserves are that subgroup of a resource that have been discovered, have a known size, and can be extracted at a profit.

Do resources include reserves?

Mineral Resources can be defined as the concentration of material of economic interest in or on the earth’s crust, whereas Ore Reserves are the parts of a Mineral Resource that can at present be economically mined.

What is reserves resource class 10th?

Reserved resources are the resources that are defined and their present amount is recognized, but since they are reserved for the future, they are not being used. As a consequence of scientific understanding, these resources may be used, but not yet completely implemented.

What is a reserve Class 10?

Class 10th. Answer : Reserves are the subset of the stock, which can be put into use with the help of existing technical ‘know-how’ but their use has not been started. These can be used for meeting future requirements.

What is meant by resources class 8?

Resources: Anything that has some utility to satisfy our needs is known as a resource. Human beings are important resources because their ideas, knowledge and skills lead to the creation of new resources.

What are the 3 types of reserves?

definition

  • General Reserves: These are those which are generally created without any specific purpose.
  • Specific Reserves: These are those which created for some specific purpose and can be used only for those specific purposes. …
  • Revenue and Capital Reserves: This classification is done according to the nature of profits.


What are the two types of reserves?

Reserves are divided into two types: Revenue Reserves. Capital Reserves.

What is the difference between a resource and a reserve quizlet?

What is the difference between a resource and a reserve? A resource refers to any mineral concentration that has the potential to be extracted and sold for a profit, while a reserve actually has been identified and is economical.

What are examples of reserves?

Examples of such reserves include Dividend Equalization Reserve, Debenture Redemption Reserves, Contingency Reserves, Capital Redemption Reserves and more.

What is a resource in mining?

A Mineral Resource is a concentration or occurrence of solid material of economic interest in or on the Earth’s crust in such form, grade or quality and quantity that there are reasonable prospects for eventual economic extraction.

What is a reserve in geography?

Based upon what has been discovered and its cost of recovery, only a segment of the total resources can be considered as reserves. Thus, reserves are resources that are available under current market conditions (cost and technology). A significant amount of resources could be known to be present.

What is called reserve?

1 : something reserved or set aside for a particular purpose, use, or reason: such as. a(1) : a military force withheld from action for later decisive use —usually used in plural. (2) : forces not in the field but available. (3) : the military forces of a country not part of the regular services also : reservist.

What are the 3 types of reserves?

definition

  • General Reserves: These are those which are generally created without any specific purpose.
  • Specific Reserves: These are those which created for some specific purpose and can be used only for those specific purposes. …
  • Revenue and Capital Reserves: This classification is done according to the nature of profits.


What are examples of reserves?

Examples of such reserves include Dividend Equalization Reserve, Debenture Redemption Reserves, Contingency Reserves, Capital Redemption Reserves and more.

What is a reserve in geography?

Based upon what has been discovered and its cost of recovery, only a segment of the total resources can be considered as reserves. Thus, reserves are resources that are available under current market conditions (cost and technology). A significant amount of resources could be known to be present.