In economics, what is the definition of natural resources?
A) the buildings, equipment, and human skills used to produce goods and services
B) the time and the physical and mental efforts used to produce goods and services
C) the imagination required to develop a new product or process
D) all gifts of nature used to produce goods and services NOT considered scarce because they are NOT produced by society

Question

In economics, what is the definition of natural resources?  
A) the buildings, equipment, and human skills used to produce goods and services 
B) the time and the physical and mental efforts used to produce goods and services 
C) the imagination required to develop a new product or process 
D) all gifts of nature used to produce goods and services NOT considered scarce because they are NOT produced by society

Quizplus · Accepted Answer

Natural resources refer to all gifts of nature that are used to produce goods and services. These resources are not produced by society, and they are not considered scarce. Examples include air, water, minerals, forests, and fisheries. Choices A, B, and C refer to other factors of production such as capital, labor, and entrepreneurship.

In Economics, What Is the Definition of Natural Resources