In the context of factors of production, which of the following statements is true of natural resources?
A) They are also referred to as man-made resources.
B) They do not require extraction, purification, or harnessing.
C) Cereal crops are an example of natural resources.
D) The value of all natural resources tends to rise with high demand.

Question

Quizplus · Accepted Answer

Natural resources are materials or substances that occur in nature and can be used for economic gain. Their value tends to rise with high demand due to their limited availability and the cost associated with extraction and processing.

In the Context of Factors of Production, Which of the Following