ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following statements about inputs is correct?
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A forest is an example of a natural resource; it is also an example of a renewable resource.
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There is no distinction between human capital and technological knowledge.
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Human capital is a non-produced factor of production.
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Physical capital is a non-produced factor of production.
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Explanation:
Detailed explanation-1: -Forests are renewable natural resource capable of providing several major and minor forest products and contribute substantially to economic development.
Detailed explanation-2: -Forest is an exhaustible renewable resource because it takes less time to grow plants and replenish in nature.
Detailed explanation-3: -Renewable resources include timber, wind, and solar while nonrenewable resources include coal and natural gas.
Detailed explanation-4: -Sunlight and wind are renewable resources that can be replenished as we use them, unlike fossil fuels and uranium, which will deplete with extraction and cannot be renewed.
There is 1 question to complete.