ECONOMICS (CBSE/UGC NET)

ECONOMICS

TECHNOLOGY

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The United Kingdom has large deposits of coal, petroleum, natural gas, iron ore, lead, zinc, and gold. The country will use these items to create products to sell. Which factor of production is being used to increase the GDP?
A
capital goods
B
human capital
C
natural resources
D
entrepreneurship
Explanation: 

Detailed explanation-1: -Sand, gravel, and crushed rock are widely available and provide raw materials for the construction industry. Clay and salt are found in northwestern England, and kaolin (china clay) is available in Cornwall. About one-fifth of England’s workers are employed in manufacturing.

Detailed explanation-2: -The UK produces a wide range of construction minerals – aggregates (from both onshore and offshore), brick clay, cement-making raw materials, gypsum, building stone and slate and a number of industrial minerals – kaolin, ball clay, silica sand, potash, industrial carbonates, fluorspar and barytes.

Detailed explanation-3: -The metals gold, silver, iron, manganese, copper, lead, zinc, tin, tungsten, arsenic and antimony have all been mined in Britain.

Detailed explanation-4: -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.

There is 1 question to complete.