ABSTRACT
This chapter deals with the classification of natural resources and has two major objectives. The first of these involves the introduction of some rigour into the general classification of natural resources; while the second is directed towards a clear statement of the characteristics of the natural resources with which this work is concerned. Once classificatory systems are thought of as factors of production, it follows that they may be considered to have high or low degrees of productivity. The traditional classificatory system indicates whether productive use of the resource is likely to result in no change in the physical stock, in a change of the physical stock which may be positive or negative or finally, a change which is always negative. The chapter discusses the tradition of usefulness or practicality of economic language and classification, with the proviso that a pragmatic approach such as this must fulfill the objectives of exhaustiveness and mutual exclusivity.
