ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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They are vital for a country to use or sell in order to make goods
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Natural resources do not play a role in a country’s economy
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The more natural resources you have the more you have to import
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Natural resources are only important to their neighboring countries
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Detailed explanation-1: -They are the natural capital out of which other forms of capital are made. They contribute towards fiscal revenue, income, and poverty reduction. Sectors related to natural resources use provide jobs and are often the basis of livelihoods in poorer communities.
Detailed explanation-2: -Resources are important for the development of any country. For example, to generate energy, one need fossil fuels; and for industrial development, we require mineral resources. 6. Irrational consumption and over utilisation of natural resources has led to socio-economic and environmental problems.
Detailed explanation-3: -For example, coal and iron are required for the growth and development of the iron and steel industry which is vital for the development of any country. Further, there are many other minerals which are of economic importance. Also, mineral fuels like petroleum, coal thorium and uranium are of national importance.
Detailed explanation-4: -Water. While the earth may be mostly water, only about 2-1/2 percent of it is freshwater. Air. Coal. Oil. Natural gas. Phosphorus. Bauxite. Copper. More items