Availability of Natural resources

The quantum and quail. real resources vitally  affect the conduction gm h of a country.  among the natural resources. we generally include the land . area and the quality of  the oil for et wealth. good river system minerals and oil resources good and bracing climate. etc. A country’s productive capacity  largely depends on the  natural resources available. Without a minimum availability of natural resources it is  idle to expect any sizable economic growth. But it may he noted that the existence of  natural resources is not a sufficient condition of economic  growth. For instance India is blessed by natural with good and sufficient resources yet it  poor and  under-developed. This is due to the fact that the natural  resources have not been  properly harnessed and  fully exploited Hence. availability If nanny AL resources by  itself cannot bring about economic development.  Ability to utilization is also   required

The supply of natural I c Sol can he increased  by research and technological   progress. Technological progress helps in the discovery of new resources oil   resources ill India and pupping to economical  use resources which have been lying   useless  hitherto. Also. the shortage  some natural resources  can he made good by   synthetic materials. For instance.  in the advanced countries synthetic rubber is   being  used more and more in place of natural rubber and  nylon is being largely used   or natural silk.

The use of natural resources and their contribution  to conduction development depends on the type  of technology, Tile resource use has a dose connection with the type and level of technology. To know this one need not go far in to history. For instance  petroleum chi hi considered so valuable today was not cons’ red important short while ago. Now  on a 0 tn of scientific discoveries and technological ed Inn   petroleum is regarded very useful.  Res’ no radio I’ve substances are considered  Al a There is no doubt that there exists lac murkier eloped countries abundant   mineral rehi h are not being used owing to the lack of Goldilocks pica progress.

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