Question

What are the four main reasons as to why, despite having an abundance of minerals and natural resources

Answer 1

Answer:

so that is a very good question that what are the four main reasons why we are having an abundance of minerals in natural resources that is because there are so many resources in main India going to talk about only in India there are so many resources in India that are useful but are not in in the eye of the human being so they are not being used by the people the main things which are in the eye of the human people human being that are used more and the things that are not even found in India are ignored and the main resources and minerals are taken out from the ground or mainly some areas that are not that much populated such as some rural area so that is why these are some of the reasons why there is an abundance of minerals and natural resources in India thank you

Answer 2

Despite having an abundance of minerals and natural resources, Pakistan has been unable to realize its potential and has not been able to succeed like other countries having similar resources

Explanation:

• Nations like Pakistan have abundant resources however, they do not have the proper technology to convert these resources that could be used. Natural endowments become resources when their actual form has been transformed. In certain cases technology & tools are required to utilise natural resources in the best possible way. Hence, most resources are "potential resources", that is, resources which cannot be used though they are useful for mankind's need
• Human capital is needed to accelerate the economic growth of a nation. For resources to be converted to useful means, human capital is needed. Resources are a function of human activities since they transform material available in the environment into resources and utilise them. However in Pakistan is one amongst the nations that has poor literacy rate. This is due to population growth, poverty, low allocations, feudal lords, male-dominated society, lack of school in rural areas. . Investment to raise the literacy rate & for skill development is essential for the growth process of the nation
• Also, going by the "paradox of plenty", nations with abundant natural resources (such ascertain minerals &  fossil fuels), tend to have less economic growth, less democracy, and worse development outcome
• Another factor is high level of corruption. Large reserves of natural resources can bring corruption & contraction if a nation’s wider economy does not benefit. There is potential to realise broad-based & sustainable gains, but the issues such as corruption has led to under development of natural resources

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