''Mere presence of resources doesn't guarantee development''. Justify the statement.
Answers
The Statement is applicable on present day global scenario. Countries with abundance of resources are underdeveloped where as countries with almost nil presence of resources and developed and prosperous. This statement basically aims at the importance of human intellectual resources rather than other resources. Development of human resources will always help to develop a society and country but development of other resources fairly has anything to do with countries development because these are human resources which apply knowledge and skill to make use of other resources. Human resources can convert oddities into opportunities. Thus," Mere presence of resources doesn't guarantee development''.
Answer:
•In the initial stages of economic development,availability of resources played an important role.
• advancement of Technology, availability of capitals and skilled labour necessary for the utilisation of resources.