ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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. Animals, birds, fish and plants are natural resources as well.

Detailed explanation-2: -Resources are characterized as renewable or nonrenewable; a renewable resource can replenish itself at the rate it is used, while a nonrenewable resource has a limited supply. Renewable resources include timber, wind, and solar while nonrenewable resources include coal and natural gas.

Detailed explanation-3: -(a) Natural resources are the things present in the environment that can be used by humans. Three important natural resources are water, fossil fuels, like coal and petroleum, and forest and wildlife.

Detailed explanation-4: -Natural resources are materials or substances which are found in nature and can be used for economic gains, such as minerals, forests, water and fertile land.

Detailed explanation-5: -Natural resources include oil, coal, natural gas, metals, stone, and sand. Air, sunlight, soil, and water are other natural resources. Thus, Natural resources are valuable as they are used to support life and meet the needs of people.