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Role of Natural Resources in Economic Development

Description: This quiz assesses your understanding of the role of natural resources in economic development.
Number of Questions: 10
Created by:
Tags: economics economic development natural resources
Attempted 0/10 Correct 0 Score 0

Which of the following is NOT a natural resource?

  1. Oil

  2. Water

  3. Manufactured goods

  4. Minerals


Correct Option: C
Explanation:

Manufactured goods are not natural resources because they are created by humans, while natural resources are found in nature.

How do natural resources contribute to economic development?

  1. They provide raw materials for industries.

  2. They generate revenue through exports.

  3. They create jobs and income.

  4. All of the above


Correct Option: D
Explanation:

Natural resources contribute to economic development in a variety of ways, including providing raw materials for industries, generating revenue through exports, and creating jobs and income.

Which of the following is an example of a country that has experienced rapid economic growth due to its natural resources?

  1. Saudi Arabia

  2. Norway

  3. Canada

  4. Australia


Correct Option:
Explanation:

All of the countries listed have experienced rapid economic growth due to their natural resources. Saudi Arabia has oil, Norway has oil and gas, Canada has oil, gas, and minerals, and Australia has minerals and coal.

What are some of the challenges associated with relying on natural resources for economic development?

  1. Depletion of resources

  2. Environmental degradation

  3. Economic instability

  4. All of the above


Correct Option: D
Explanation:

Relying on natural resources for economic development can lead to a number of challenges, including depletion of resources, environmental degradation, and economic instability.

How can countries avoid the challenges associated with relying on natural resources for economic development?

  1. Diversify their economies

  2. Invest in renewable energy

  3. Promote sustainable development

  4. All of the above


Correct Option: D
Explanation:

Countries can avoid the challenges associated with relying on natural resources for economic development by diversifying their economies, investing in renewable energy, and promoting sustainable development.

What is the role of technology in the sustainable use of natural resources?

  1. It can help to extract resources more efficiently.

  2. It can help to reduce the environmental impact of resource extraction.

  3. It can help to develop new renewable energy sources.

  4. All of the above


Correct Option: D
Explanation:

Technology can play a role in the sustainable use of natural resources by helping to extract resources more efficiently, reduce the environmental impact of resource extraction, and develop new renewable energy sources.

What is the role of government in the sustainable use of natural resources?

  1. It can regulate the extraction and use of resources.

  2. It can provide incentives for businesses to adopt sustainable practices.

  3. It can invest in research and development of new technologies.

  4. All of the above


Correct Option: D
Explanation:

Government can play a role in the sustainable use of natural resources by regulating the extraction and use of resources, providing incentives for businesses to adopt sustainable practices, and investing in research and development of new technologies.

What is the role of individuals in the sustainable use of natural resources?

  1. They can reduce their consumption of resources.

  2. They can recycle and compost.

  3. They can support businesses that adopt sustainable practices.

  4. All of the above


Correct Option: D
Explanation:

Individuals can play a role in the sustainable use of natural resources by reducing their consumption of resources, recycling and composting, and supporting businesses that adopt sustainable practices.

What is the future of natural resources in economic development?

  1. Natural resources will continue to play a major role in economic development.

  2. Natural resources will become less important as the world transitions to a more sustainable economy.

  3. Natural resources will become more important as the world's population grows.

  4. It is difficult to predict the future of natural resources in economic development.


Correct Option: D
Explanation:

The future of natural resources in economic development is uncertain. Some experts believe that natural resources will continue to play a major role, while others believe that they will become less important as the world transitions to a more sustainable economy. It is difficult to say for sure what will happen.

Which of the following is an example of a country that has successfully transitioned to a more sustainable economy?

  1. Costa Rica

  2. Sweden

  3. Denmark

  4. All of the above


Correct Option: D
Explanation:

Costa Rica, Sweden, and Denmark are all examples of countries that have successfully transitioned to a more sustainable economy. These countries have reduced their reliance on fossil fuels, invested in renewable energy, and adopted sustainable practices in agriculture and industry.

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