Indian Economic Dynamics

Economic resources are factors used for the production of goods or the provision of services.

The two categories of economic resources are natural resources and human resources.

Examples of natural resources in India include land area, soil quality, forest wealth, rivers, minerals, oil resources, and a favorable climate.

<p>Natural resources are the raw materials from which other types of capital are created. They help increase fiscal revenue, income, and reduce poverty.</p> Signup and view all the answers

<p>Japan, Singapore, and others have developed despite not being abundant in natural resources.</p> Signup and view all the answers