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What does the legal and economic term Patent mean in the context of resource
creation?
- A
The government tax levied on imported raw materials.
- B
The exclusive right over any idea, process, or invention granted to its creator
- C
The natural speed at which non-renewable minerals replenish in nature.
- D
The process of converting agricultural land into industrial parks.
Explanation
A Patent grants exclusive legal and economic rights over an idea or invention, allowing its owner to commercialise it and turn non-economic ideas into valuable commercial resources.
Consider the following statements regarding the definition of a Resource:
1.Anything that can be used to satisfy a human need is defined as a resource.
2.An object acquires resource status only when it possesses economic monetary
value in the market.
Which of the statements given above is/are correct?
- A
1 only
- B
2 only
- C
Both 1 and 2
- D
Neither 1 nor 2
Explanation
Statement 1 is correct. Statement 2 is incorrect because not all resources have economic monetary value; non-economic items like a beautiful landscape or fresh air satisfy human needs and are vital resources without having a market price tag.
Based on their origin, natural resources are classified as Abiotic or Biotic. Which of the following are examples of Abiotic Resources?
1. Soils and Rocks
2. Minerals
3. Forests and Flora
4. Fauna and Livestock
- A
1 and 2 only
- B
3 and 4 only
- C
1,2and 3
- D
1,2,3and 4
With reference to the level of development and use of natural resources, consider the
following statements:
1. Actual resources are those whose quantity is known and which are currently being
used in the present time.
2. Potential resources are those whose entire quantity may not be known and which are not being fully utilized currently due to technology gaps.Which of the statements given above is/are correct?
- A
1 only
- B
2 only
- C
Both 1 and 2
- D
Neither 1 nor 2
Explanation
Both statements are correct. Actual resources (e.g., coal in Ruhr Valley) are surveyed and in active use. Potential resources (e.g., uranium reserves in Ladakh) require future technology or investment for full exploitation.
Consider the following statements regarding Renewable and Non-Renewable resources:
1. Non-renewable resources have unlimited stock and get replenished instantly by
atmospheric cycles.
2. Coal, petroleum, and natural gas are examples of non-renewable resources
because their formation takes thousands of years.
Which of the statements given above is/are correct?
- A
1 only
- B
2 only
- C
1 and 2 both
- D
Neither 1 nor 2
Explanation
Statement 1 is incorrect because non-renewable resources have limited stock and take millions of years to form. Statement 2 is correct; fossil fuels like coal and petroleum replenish much slower than human consumption rates
Which two primary factors are responsible for transforming neutral environmental
substances into resources over time?
1. Time
2. Technology
3. Topography
- A
1 and 2 only
- B
2 and 3 only
- C
1 and 3 only
- D
1,2and3
Explanation
Time and Technology are the two main factors that transform materials into resources as human knowledge advances and needs change over different historical eras .
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These are sample questions with their answers. Log in to attempt them, track your accuracy, earn coins and save every session to your history.