Question

why resources have economic value class 8 subject geography​

Answer 1

Answer:

Explanation:

Resource: Anything which has some utility for us is called a resource. Some resources have economic value, while some do not. For example; milk has economic value, but a beautiful landscape has no economic value. But both are important because both satisfy some human needs.

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Answer 2

Answer:

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Since money gives us a common unit of exchange the person who has the iron can sell it to someone who values the iron more than they value their money. Thus, scarce and valuable resources have value because someone values their money (or something else) less and is willing to trade.

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