Resources are important for the development of nation. Give two reason.
Answers
resources, both renewable and non-renewable, and ecosystem services are a part of the real wealth of nations. They are the natural capital out of which other forms of capital are made. They contribute towards fiscal revenue, income, and poverty reduction.
resources, economic growth, and sustainabledevelopment. ... Natural resources have a double-edge effect on economic growth, in that the intensity of its use raises output, but increases its depletion rate.Natural resource is a key input in the production process that stimulates economic growth.
For example, coal and iron are required for the growth and development of the iron and steel industry which is vital for thedevelopment of any country. Further, there are many other minerals which are of economic importance. Also, mineral fuels like petroleum, coal thorium and uranium are of national importance.
Answer:
Resources are important for the development of any country. For example, fossil fuels are essential to generate energy, mineral resources are important for industrial development, etc.
Necessary to conserve resources because:
(i) Their irrational consumption and over utilisation have led to socio-economic and environmental problems.
(ii) It takes million of years for the formation of natural resources.
(iii) Natural resources are available in fixed quantity and they are non – renewable.