Question

Identify whether the statements below are true or false by dragging and dropping the appropriate term into the bin provided.

Answer 1

Solution and Explanation:

1. False-   Long run Economic growth is likely to be sustainable because of finite natural resources as othe man made resources will be available to sustain growth.  

2. False-    In mordern economy posesing few natural resources will not affect a country to develop economically; human resources and man made resources will also contribute. Foreign trade can also play an important role towards growth, in the absence of abundant natural resources.

3. True-   Natural resources are vital, and mostly exhaustible. Hence it is very essential to find suitable alternatives.

4. False- Economies of 21st century depend on human capital due to depletable atural resources.

5. True - In the 19th century, minerals and farming land were the most mportant resources, since self sustainability was in vogue.