Question: Are Natural Resources Good Or Bad For Development?

How the natural resources are important for human development?

Resources are important for the development of any country.

For example, to generate energy, one need fossil fuels; and for industrial development, we require mineral resources.

Natural resources are getting scarce with the increasing population, so it is essential to conserve them..

What are the negative effects of development of resources?

In short, raw material extraction and processing always impact on the environment, resulting as they do in soil degradation, water shortages, biodiversity loss, damage to ecosystem functions and global warming exacerbation.

What is the role of natural resources in economic development?

Natural resources such as oil, gas, minerals and timber are expected to continue to play a significant role in resource abundant economies, as demand from rapidly growing economies increases, and as supplies of non-renewable resources decline and renewable resource harvests approach maximum sustained yield levels.

What are the advantages of natural resources?

Natural resources encompass ecosystems, wildlife and habitat preservation, environmental protection, biodiversity and conservation of forests, water and energy resources. Renewable energy and energy efficiency promote savings and health benefits and provide opportunities for economic growth and sustainable development.

What are the advantages of alternative energy?

Advantages of renewable energyRenewable energy won’t run out.Maintenance requirements are lower.Renewables save money.Renewable energy has numerous health and environmental benefits.Renewables lower reliance on foreign energy sources.Higher upfront cost.Intermittency.Storage capabilities.More items…•

How do natural resources affect development?

Natural resources, economic growth, and sustainable development. … Natural resources have a double-edge effect on economic growth, in that the intensity of its use raises output, but increases its depletion rate. Natural resource is a key input in the production process that stimulates economic growth.

How does natural resources help in development of the country?

Generally, economic growth, poverty reduction and industrial development are the top priorities of developing countries. The natural resources provide soil to grow food, and water for drinking, washing and irrigation. Forests and rivers provide fish to eat or export and raw materials for a wide range of industries.

Why is natural resources important to a country?

Animals, birds, fish and plants are natural resources as well. Natural resources are used to make food, fuel and raw materials for the production of goods. All of the food that people eat comes from plants or animals. Natural resources such as coal, natural gas and oil provide heat, light and power.

What are the main natural resources of our nation?

Biotic resourcesPopulation.Forestry.Fish.Coal.Oil.Natural gas.Metallic minerals.Non-metallic minerals.More items…

What is the richest country in resources?

RussiaRussia is the world’s richest country when it comes to natural resources. It leads all other nations in the size of both its natural gas and timber reserves.

What is the most important natural resource and why?

Soil is one of the most important natural resources on Earth, being required both directly and indirectly for food production, manufacturing of industrial raw materials, and for generation of energy sources. Soil is essential for the function of ecosystems providing nutrients, oxygen, water, and heat.

What are the disadvantages of natural resources?

DisadvantagesRenewable resources are only available in certain parts of the world, eg sunny places.Non renewable resources are scarce and will run out.Non renewable resources cause pollution.Renewable resources are expensive.