ECONOMICS (CBSE/UGC NET)

ECONOMICS

SCARCITY

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
People use resources to obtain what they want or need.
A
True
B
False
C
Either A or B
D
None of the above
Explanation: 

Detailed explanation-1: -Natural resources are used to make food, fuel and raw materials for the production of goods. All of the food that people eat comes from plants or animals. Natural resources such as coal, natural gas and oil provide heat, light and power.

Detailed explanation-2: -BASIC NEEDS Food, clothing, and shelter are often listed as the three basic human needs. Providing these involves using natural resources. Food and water provide needed nutrients. Food is typically obtained from plants and ani-mals produced on farms and ranches.

Detailed explanation-3: -First, students will learn about three types of resources (human, natural, and capital) that are a part of communities and cultures.

Detailed explanation-4: -3.1 Biotic & Abiotic. 3.2 Renewable & Non-renewable. 3.3 Potential, Developed, and Stock Resources.

There is 1 question to complete.