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Natural Resources
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Natural resources are the
natural endowments
, such as
land, air, water, soil, minerals, natural vegetation and fossil fuels
.
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Some natural resources can be used
directly
by us, i.e. without any
modification or processing
. However, most natural resources need to be
processed
to produce goods fit for human consumption.
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Natural resources provide us
raw materials
, which have to be processed into useful products fit for human consumption.
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The
place
where natural resources occur influences their use. For example, some mineral resources occur on the earth’s surface while others may occur deep under the earth. It is difficult to mine beyond a depth of about 2,000m. Therefore, minerals occurring at such depths cannot be used by human beings.
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The utility of any natural resource is determined by the following factors:
- The form in which it occurs.
- The place where it occurs.
- The efforts needed to process it.
- The cost of processing it.
