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[[1]] resources are owned privately by individuals.


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Detailed Solution

Individual resources are owned privately by individuals. Resources are classified based on various parameters. One such parameter is ownership. Individual resources are owned privately by individuals. These are also privately held by people. Many farmers hold land given to them by the government in exchange for tax payments. Although there are many landless people in villages, others own land. People who live in cities possess lots, homes, and other property. People possess resources: plantations, pasture fields, ponds, water in wells, etc.
 
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