ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Forests and forest products, crops, birds, animals, fish, and other marine life are examples of biotic resources. These resources are renewable because they replenish and reproduce themselves. Although they are biological resources, coal and mineral oil cannot be replenished.

Detailed explanation-2: -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.

Detailed explanation-3: -Water is the most abundant natural resource on the planet, the source of countless ecosystem services, and critical to industrial, agricultural, household, and recreational activities.

Detailed explanation-4: -Trees are important because they provide valuable commodities, including wood, paper, and fruit. However, forests are not distributed equally around Earth, and there are economic and social implications of some regions having more timber resources than others.

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.