Economics: Resources and Economic Development

Podcast

Play an AI-generated podcast conversation about this lesson

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:

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

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

origin Signup and view all the answers

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

All of the above Signup and view all the answers

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

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

Resources are not vital for human survival.

False Signup and view all the answers

What is the main objective of Sustainable Development?

To balance economic development with environmental protection Signup and view all the answers

The Rio Earth Summit was held in 1993.

False Signup and view all the answers

What is Agenda 21?

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. Signup and view all the answers

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

water Signup and view all the answers

What is the main strategy for judicious use of resources?

Planning Signup and view all the answers

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

False Signup and view all the answers

Match the following states with their respective resources:

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

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

Ladakh 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.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

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