ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Money. It is not a resource since it is not directly involved in the production of services and commodities. The other options are all examples of resources.

Detailed explanation-2: -Electricity though produced from natural resources it requires different processes to generate electricity and hence is not a natural resource.

Detailed explanation-3: -No, money is not an economic resource. Money cannot be used by itself to produce anything as it is a medium of exchange for economic resources. Money may seem like an economic resource because of its power to keep a business running, but it is a veil for past value and does not contain any value in itself.

Detailed explanation-4: -Money merely facilitates trade, but it is not in itself a productive resource. Remember, goods and services are scarce because the factors of production used to produce them are scarce. In case you have forgotten, scarcity is described as limited quantities of resources to meet unlimited wants.

Detailed explanation-5: -Air, water, and sunlight are not the economic resources. This is because these resources are present in abundance which means they are not scarce. The example of economic resources are land, labour, capital.