ECONOMICS (CBSE/UGC NET)

ECONOMICS

ECONOMIC SYSTEMS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A product of the earth that people use to meet their needs is a
A
good
B
natural resource
C
free enterprise
D
service
Explanation: 

Detailed explanation-1: -Earth’s natural resources include air, water, soil, minerals, fuels, plants, and animals. Conservation is the practice of caring for these resources so all living things can benefit from them now and in the future. All the things we need to survive, such as food, water, air, and shelter, come from 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: -"Synthetic” products are also made from natural resources. For example, the synthetic material plastic is made from petroleum, which is pumped out of the earth. Petroleum is a natural resource.

Detailed explanation-4: -From an energy perspective, primary fuels such as coal, oil, natural gas, and uranium are natural resources. Moreover, flows in nature like wind, and hydro are also natural resources. Unlike flows, primary fuels are in deposits within the Earth that must be discovered and extracted.

There is 1 question to complete.