Question

2.2 Give an example of a resource that has
(a) non-economic value.
(b) economic value.
(c) non-economic value but has the potential to gain economic value.​

Answer 1

Answer:

exmaples:

a) business, employment, capital

b) social welfare active, Housewives

c) work in factories, farm, banks.

Answer 2

Answer:

Give an example of a resource that has

(a) non-economic value.

(b) economic value.

(c) non-economic value but has the potential to gain economic value.​

Explanation:

A resource is a physical material that humans need and value such as land, air, and water. Resource are characterized as renewable or non- renewable.

• (a). Non- economic value- Non- economic resources all those resource that are generally limitless in supply and are not rationed by prices. Basically non- economic means having no economic importance or implication. Mountain, river, sea, forest are resource but do not have economic value.
• (b). Economic value- The resource that have some price, the resource which have some economic value are known as economic value resource for example- gold, silver, diamond and other metals.
• (c). Non- economic value but has the potential to gain economic value- work in factories, farm, banks.

Hence, this is answer.