2.How does the economic condition of a nation depend on its natural resource?
Answers
Answer:
Land” as used in economics includes natural resources such as the fertility of land, its situation and composition, forest wealth, minerals, climate, water resources and sea resources etc. ... The presence of abundant resources is not sufficient for economic growth.
Answer:
The economic conditions depend on the natural recources. This is because natural resources,which are mostly land and water,differ in their fertility, situation, composition, irrigation, etc in different places. A place which has a more fertile land and better irrigation will yield more crops and thus will earn more money,l selling their crops, leading to a better economy with more money. A place with poor irrigation and infertile soil will yield poor quality crops ,not as good as others , so obviously people tend not to buy from that place.Thus the economic condition becomes poor as they don't earn money.
This is how economic condition depends on natural resources.