ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -These are the materials from the earth which support life on earth and help fulfilling the needs of human beings. Humans require air, water, food from plants and animals, sunlight, minerals, land, soil and fossil fuels to exist. All these useful raw materials are called natural resources.

Detailed explanation-2: -Oil, coal, natural gas, metals, stone and sand are natural resources. Other natural resources are air, sunlight, soil and water. Animals, birds, fish and plants are natural resources as well. Natural resources are used to make food, fuel and raw materials for the production of goods.

Detailed explanation-3: -Mineral resources are non-renewable and include metals (e.g. iron, copper, and aluminum), and non-metals (e.g. salt, gypsum, clay, sand, phosphates). Minerals are valuable natural resources being finite and non-renewable.

Detailed explanation-4: -Trees are important because they provide valuable commodities, including wood, paper, and fruit. However, forests are not distributed equally around Earth, and there are economic and social implications of some regions having more timber resources than others.

Detailed explanation-5: -Natural resources fall into three categories: perpetual renewable resources; intermediate renewable resources and non-renewable resources.