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What is Kazakhstan's major resource?
Its major natural resource is oil, as well as gas, gold, copper. It is also rich in wheat production.
What factor of production is oil?
Oil is classified as a natural resource, which is one of the four primary factors of production, alongside land, labor, and capital. It serves as a crucial input in various industries, particularly in energy production and manufacturing. As a non-renewable resource, its extraction and use have significant economic implications and environmental considerations.
List a nonrenewable resource?
Petroleum (oil) is a nonrenewable resource that is extracted from the Earth and used for energy production, transportation, and manufacturing. Once it is extracted and consumed, it cannot be replaced on a human timescale.
What significant resource do Nigeria and Angola and Sudan have?
Nigeria, Angola, and Sudan are all significant oil-producing countries, with oil being a crucial resource for their economies. Nigeria has one of the largest oil reserves in Africa, while Angola is known for its offshore oil fields. Sudan, though less prominent in oil production compared to the other two, still has notable reserves that contribute to its economy. The oil sector in these countries plays a vital role in their economic development and international trade.
What is the major mineral resource of Venezuela?
The major mineral resource of Venezuela is bauxite. Other minerals include coal, gold, iron, oil, and petroleum. It is the fifth largest gold producer in South America.
Is wind and oil a renewable resource?
Wind is a renewable resource. Oil is not a renewable resource.
What Natural Resource does OPEC control the production price and distribution?
OPEC (Organization of the Petroleum Exporting Countries) controls the production, price, and distribution of oil, which is a significant natural resource. OPEC member countries collectively produce a large portion of the world's crude oil and play a key role in influencing global oil market dynamics.
Is oil a finite or infinite resource?
Oil is a finite resource.
What is something good about crude oil?
Crude oil is a valuable resource that can be refined into various products such as gasoline, diesel, and jet fuel, which are essential for transportation and energy production. It also serves as a feedstock for the production of items like plastics, lubricants, and fertilizers.
Is oil a natural resource?
Yes, oil is a natural resource that is formed from organic matter over millions of years. It is extracted from the ground and used for various purposes such as fuel, lubrication, and the production of plastics.
What is Oman's resource?
Oil is the principal resource.
Is oil a non renewable resource a renewable resource or a inexhaustible resource?
Oil, the fossil fuel, is a non-renewable resource on human time scales. Vegetable oil is a renewable resource. An inexhaustible resource would be sunlight and a renewable resource would be wind energy and solar energy.
