Question

2. Define natural resources, raw materials and finished products/goods with examples.​

Answer 1

Answer:

Raw materials are materials or substances used in the primary production or manufacturing of goods. Raw materials are commodities that are bought and sold on commodities exchanges worldwide. Traders buy and sell raw materials in what is called the factor market because raw materials are factors of production as are labor and capital.

Explanation:

Examples of raw materials include: steel, oil, corn, grain, gasoline, lumber, forest resources, plastic, natural gas, coal, and minerals.

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Answer 2

Explanation:

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