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Classification of Resources

CAFS Preliminary
by

Guy McDermott

on 19 February 2014

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Transcript of Classification of Resources

Resources
Definition: Resources are what individuals and families use to achieve goals. Resources can be any object, person, concept, idea, ability, skill, condition, etc., that may assist in the attainment of goals. In order to satisfy needs and wants, goals are set and ranked in a priority order. The setting of goals is influenced by the resources available to a person.

Classification of Resources

Non-economic
Non economic resources are resources which do not require the exchange of finances to obtain goods or services. An example of a non-economic resource would be when an individual decides to grow a vegetable garden. The knowledge and skills used to grow the vegetables are examples of non-economic resource.

Human
Human resources include skills, abilities and talents of individuals, and those resources which cannot be utilised independently of other people. Human resources therefore include personal and interpersonal resources. Personal resources are things an individual possesses; he or she may have been born with these abilities, and/or they may have been developed throughout the lifespan. Interpersonal resources, by definition, involve other people; they are necessary to develop and maintain social relationships such as cooperation. There social relationships exists in families, in peer and friendship groups, in sporting and recreational groups, and in the workplace.

Classification
Resources can be categorised in the following way:-
Economic
Economic resources are the resources that are acquired when money is used to purchase or hire goods and services. The money that is used in the acquisition of the resource could be money that has been saved, loaned or made available through credit, for example, credit cards. For instance, and individual would like a car; in order to get a car it will need to be purchased either by saving money, or by loaning money from a bank or by using credit. This care would then be classified as an economic resource because it costs money to obtain the care and will continue to cost money to operate the vehicle (e.g. petrol, insurance and registration). A hairdresser would be classified as an economic resource because money is exchanged in order for the haircut (service) to be done.

Resources
Can you arrange these resources into groups?
Economic
Non- economic
Human
Non-Human
Formal
Infromal
Non-human
Non-human resources are hose resources which exist externally of people, but which are owned, controlled or utilised by individuals, families and groups. Non-human resources include money, material goods, and community, national, global and environmental resources. Some non-human resources may be scarce, others may be in greater supply.

Formal
Formal resources tend to be highly structured organisations that provide goods and/or services to the community. These formal resources would either be from voluntary agencies, private industries or government organisations. An example of a formal resource would be to utilise the services of a grief counsellor when a family member dies.

Informal
Another method of classifying resources is to group them under the heading of formal and informal. An informal resource is one that is provided on the spur of the moment and utilises the knowledge and/or skills of the individual concerned or the peer group or other family members, usually informal resources are not planned or structured and tend to be influenced by the good will of others. An example of an informal resource would be to use a family member to baby-sit your children instead of using a child care center.
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