Question

why coal and iron have economic value​

Answer 1

Answer:

Iron ore is the raw material used to make pig iron, which is one of the main raw materials to make steel—98% of the mined iron ore is used to make steel. In 2011 the Financial Times has speculated that iron ore is "more integral to the global economy than any other commodity, except perhaps oil".

Coal is used to generate electricity, produce cement and steel. ... Cheap coal helps these countries improve their economic output (GDP), but they pay a terrible price related to the environment and public health.

Answer 2

Answer:

The most significant uses of coal are in electricity generation, steel production, cement manufacturing and as a liquid fuel...Coal has many important uses worldwide..

 Trade in iron ore makes it the second-largest commodity market by value after crude oil. ... Unlike oil, iron is plentiful—it makes up 5% of the Earth's crust.

Hope this will help!!