A good term to use here is "guns or butter"
A country that has no resources may decided to produce military goods(guns) and a country that has a lot of resources and is not presently threatened by any foreign power may decide to produce consumer goods(butter).
Not all countries that don't have a lot of resources produce military goods. Countries like Hong Kong, Singapore, Japan, and Taiwan are perfect examples of that. They chose to become reliant in producing wants rather than needs, like electronics and petroleum products. Countries like Singapore and Hong Kong are examples of successful countries that reply on international trade. The only resources they have are capital(any human-made good used to produce other goods and services) and labor(any effort a person puts forth to produce good and services).
Source: My brain
I hope I helped. :)
Michael Montagne
thats what im trying to find out
Land is a factor of production. It includes land as well as all the natural resources available to us. for example, minerals, fertile soil, forests, oil etc by Sana
The study of economics is essentially the study of how to intelligently distribute limited resources in order to best satisfy unlimited wants.
Copper, Iron, mostly natural resources.
Per CIA fact book (google US Natural Resources): coal, copper, lead, molybdenum, phosphates, uranium, bauxite, gold, iron, mercury, nickel, potash, silver, tungsten, zinc, petroleum, natural gas, timber and oil.
The study of economics is important because without it we would not be able to understand the impact of the developments in business, society, and the world economy. It also allows us to comprehend the decisions of households, firms, and government based on human behavior, beliefs, structure, constraints, and needs. The study of economics is important in the sense that it teaches us how to make rational use of our scarce resources in order to meet our unlimited wants.
Coal and oil are some natural resources of the US.
Natural resources.
The 3 natural resources in US r water, air, and soil i think.
Land is a factor of production. It includes land as well as all the natural resources available to us. for example, minerals, fertile soil, forests, oil etc by Sana
The natural resources are usually forests, water, or mountains. So they either have to build over the water, into the mountain, or bend around trees in the wooded area.
K
uranium
The study of economics is essentially the study of how to intelligently distribute limited resources in order to best satisfy unlimited wants.
There currently does not seem to be a large amount of trading exchange between the US and China in terms of Natural Resources. China currently uses US natural resources, but there is not much available for China to provide for the US.
It depends: the US is much richer in some resources and Mexico in others.
Yes, relatively.
continuesly reducing on natural resources because of science..however science give us a better life but its cant stop for using natural resources..such as petroleum or natural gases and ext..