Economics: Resources and Economic Development
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Economics: Resources and Economic Development

Created by
@ImprovingPascal

Questions and Answers

Resources are free gifts of nature.

False

What is a resource?

  • Only things available in our environment
  • Anything that can satisfy our needs, provided it is technologically accessible, economically feasible, and culturally acceptable (correct)
  • Only things that are technologically accessible
  • Only things that are economically feasible
  • What are the three factors that interact with each other to transform things available in our environment into resources?

    Nature, Technology, and Institutions

    Match the following classification of resources with their descriptions:

    <p>Renewable = Can be replenished naturally Non-Renewable = Cannot be replenished naturally Individual = Owned by a single person International = Owned by multiple countries</p> Signup and view all the answers

    Resources can be classified on the basis of ___________ into biotic and abiotic.

    <p>origin</p> Signup and view all the answers

    What is a major problem caused by the indiscriminate exploitation of resources?

    <p>All of the above</p> Signup and view all the answers

    The indiscriminate exploitation of resources has led to global ecological crises such as ___________.

    <p>global warming, ozone layer depletion, environmental pollution, and land degradation</p> Signup and view all the answers

    Resources are not vital for human survival.

    <p>False</p> Signup and view all the answers

    What is the main objective of Sustainable Development?

    <p>To balance economic development with environmental protection</p> Signup and view all the answers

    The Rio Earth Summit was held in 1993.

    <p>False</p> Signup and view all the answers

    What is Agenda 21?

    <p>Agenda 21 is a declaration signed by world leaders in 1992 at the United Nations Conference on Environment and Development (UNCED), which aims at achieving global sustainable development.</p> Signup and view all the answers

    The state of Arunachal Pradesh has an abundance of ________________ resources.

    <p>water</p> Signup and view all the answers

    What is the main strategy for judicious use of resources?

    <p>Planning</p> Signup and view all the answers

    The state of Rajasthan is well-endowed with water resources.

    <p>False</p> Signup and view all the answers

    Match the following states with their respective resources:

    <p>Jharkhand = Minerals and coal deposits Arunachal Pradesh = Water resources Rajasthan = Solar and wind energy Ladakh = Isolated region</p> Signup and view all the answers

    The cold desert of ________________ is relatively isolated from the rest of the country.

    <p>Ladakh</p> Signup and view all the answers

    Study Notes

    Resources and Environment

    • A resource is anything in our environment that can be used to satisfy our needs, provided it is technologically accessible, economically feasible, and culturally acceptable.
    • Resources are not free gifts of nature, but are transformed by human activities from materials available in our environment.
    • Human beings interact with nature through technology and create institutions to accelerate their economic development.

    Classification of Resources

    • Resources can be classified on the basis of:
      • Origin: biotic (living) and abiotic (non-living)
      • Exhaustibility: renewable and non-renewable
      • Ownership: individual, community, national, and international
      • Status of development: potential, developed stock, and reserves

    Importance of Resources

    • Resources are vital for human survival and maintaining the quality of life.
    • Indiscriminate exploitation of resources has led to global ecological crises such as global warming, ozone layer depletion, environmental pollution, and land degradation.

    Sustainable Development

    • Sustainable development means development that takes place without damaging the environment and compromising the needs of future generations.
    • The Rio de Janeiro Earth Summit in 1992 endorsed the global Forest Principles and adopted Agenda 21 for achieving Sustainable Development in the 21st century.

    Agenda 21

    • Agenda 21 is a declaration signed by world leaders in 1992 at the United Nations Conference on Environment and Development (UNCED) in Rio de Janeiro, Brazil.
    • It aims to achieve global sustainable development by combating environmental damage, poverty, and disease through global cooperation.

    Planning and Resource Management

    • Planning is a widely accepted strategy for the judicious use of resources.
    • In a country like India, with enormous diversity in resource availability, planning is crucial to ensure efficient use of resources.
    • Regional disparities in resource availability make planning essential to allocate resources effectively.

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    Description

    This quiz assesses your understanding of resources, their accessibility, and the transformation process involving nature, technology, and institutions to achieve economic development.

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