ECONOMICS
SCARCITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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natural resource
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intermediary resource
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capital resource
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human resource
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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: -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.
Detailed explanation-3: -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-4: -Renewable: resources that are available in infinite quantity and can be used repeatedly are called renewable resources. Example: Forest, wind, water, etc.
Detailed explanation-5: -Rainwater. Groundwater. Surface water.