18 Questions
Which type of resource refers to materials developed by humans?
Man-made resources
Which of the following is an example of a biotic resource?
Vegetation
Which type of resource involves substances obtained from non-living things?
Abiotic resources
Doctors and nurses are examples of which type of resource?
Human resources
Which type of resource gets renewed by natural processes and is continuous?
Renewable resources
Which of the following is considered a man-made resource?
Plastic
Which type of resource is characterized by substances that decrease and disappear with use?
Exhaustible resources
Which concept is reflected in the statement 'There is enough for everyone’s need but not for everyone’s greed'?
Conservation of resources
What kind of resources are Ocean water and sunlight considered to be?
Potential resources
What is meant by the idea that resources have alternative uses?
Resources can be utilized for multiple purposes
Which of the following best describes actual resources?
Resources already being utilized by the present generation
Why do some wants always remain unsatisfied according to the text?
Limited supply of resources
What is the economic problem primarily concerned with?
Allocation of limited resources for production of goods and services
Which resource category includes factors like land, labor, capital, and enterprise?
Human resources
Which concept refers to a situation where only a limited amount of resources is available leading to a constrained production capacity?
Scarcity
What type of resources are land, water, and mineral deposits classified as?
Abiotic resources
In the context of economic problems, what factor contributes significantly to the problem of choice?
Unlimited human wants
In what way do wants differ from each other according to the text?
Wants are gradable and competitive based on priority
Test your knowledge on the basic problems of an economy related to resources and types of resources. Learn about natural resources, man-made resources, and human resources.
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