1. A processing system comprising: memory storage; memory resource partitioning code that is executable to allocate a memory partition when a process creates a memory object at runtime, wherein the memory partition is created for a single class of memory and the memory partition is associated with the memory storage, the memory partition having associated memory partition rules based on attributes established on a per memory class basis, that govern allocation of the memory storage associated with the memory partition, where the memory partition rules include a minimum size attribute and a maximum size attribute that indicate an amount of memory reserved for the memory partition and an amount of discretionary memory which is not guaranteed to be available for the memory partition, wherein a non-zero minimum size specifies an amount of memory reserved for use by the memory object created at runtime which is associated with the memory partition and the maximum size specifies an amount of memory that cannot be exceeded for use by the memory object created at runtime which is associated with the memory partition; and the process that is operable to create the memory object at run time and generate a request for use of an amount of memory storage; where the memory resource partitioning code responds to the process requesting use of the amount of memory storage by generating the memory partition for allocating memory in accordance with the memory partition rules.