Physical and Human Resources: The amount of physical resources, which includes
land, minerals and other raw materials, available to a country can make a huge
difference in the life style of its population. The countries in the developing world
differ very much in terms of owning these physical resources. Not only this, they also
differ a lot in terms of their human resources. Some countries may have a small but
highly skilled, educated and innovative population. While some countries may have a
very large but mainly very low skill population with very little or no education. Yet
there can be countries which may have large population with average to high levels of
skill and education.