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1.Within the field of economics, common resources are generally referred to as common pool resources, common property resources, or common access resources—a type of good whose characteristics or size make them costly or difficult to regulate and exclude potential users from obtaining benefits from their use.
2.Petroleum is referred to as Black Gold. ... When the petroleum is drilled from the ground in the liquid form, it is referred to as crude oil. This name black gold itself is an indication that it is very vital to humans. Because of its oil and worth, people refer to it gold.
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Ans.5:- Community land
Ans.6:- It has immense values
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