ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Natural resources are naturally occurring materials that are useful to human life. They include air, water, soil, and forests. These resources are however limited and should be utilized with caution. Natural resources are of two types-renewable resources and non-renewable resources.

Detailed explanation-2: -These resources are divided into four broad categories: natural (land), human (labor), capital and entrepreneurship. Natural resources are “gifts” of nature and include things like raw materials, water, wood, air, sunlight, soil, animals, etc.

Detailed explanation-3: -Answer: Natural resources are gifts of nature since they are available free of cost without any expenses. They can be used further by humans in various forms without paying to the nature in any form.

Detailed explanation-4: -The long range of mountains, the wide oceans, the sparkling streams, the dense forests, the animals, birds and insects are the gifts of nature.

Detailed explanation-5: -Natural resources are materials from the Earth that are used to support life and meet people’s needs. Any natural substance that humans use can be considered a natural resource. Oil, coal, natural gas, metals, stone and sand are natural resources. Other natural resources are air, sunlight, soil and water.