Skip to main content

Business Economics Economics:

"Abundant natural resources are a necessary condition for economic growth ." True or False

"Abundant natural resources are a necessary condition for economic growth ." True or False

Solution Summary: The author explains that abundant natural resources are a necessary condition for economic growth, but an economy is not totally dependent on them.

Economics:

10th Edition

ISBN: 9781285859460

Author: BOYES, William

Publisher: Cengage Learning

See similar textbooks

Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 16, Problem 13E

To determine

"Abundant natural resources are a necessary condition for economic growth." True or False

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

Blurred answer

Chapter 16, Problem 12E

Chapter 16, Problem 14E

Students have asked these similar questions

Explain why economic growth leads to lower death rates and better health?

Why Are the Factors of Production Important to Economic Growth?

“Economic growth doesn’t simply depend on having more natural resources, more or higher-quality labor, more capital and so on; it depends on people’s incentives to put these resources together to produce goods and services” Do you agree or disagree? Why? Explain.

Chapter 16 Solutions

Economics:

Ch. 16 - Prob. 1E Ch. 16 - Prob. 2E Ch. 16 - Prob. 3E Ch. 16 - Prob. 4E Ch. 16 - Prob. 5E Ch. 16 - Prob. 6E Ch. 16 - Prob. 7E Ch. 16 - Prob. 8E Ch. 16 - Prob. 9E Ch. 16 - Prob. 10E

Ch. 16 - Prob. 11E Ch. 16 - Prob. 12E Ch. 16 - Prob. 13E Ch. 16 - Prob. 14E Ch. 16 - Prob. 15E Ch. 16 - Prob. 16E

Knowledge Booster

Background pattern image

Recommended textbooks for you

Economics:
Economics
ISBN:9781285859460
Author:BOYES, William
Publisher:Cengage Learning
Macroeconomics
Economics
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...
Economics
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Macroeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc

Text book image

Economics

ISBN:9781285859460

Author:BOYES, William

Publisher:Cengage Learning

Text book image

Economics

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Cengage Learning

Text book image

Economics (MindTap Course List)

Economics

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Cengage Learning

Text book image

Economics: Private and Public Choice (MindTap Cou...

Economics

ISBN:9781305506725

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:Cengage Learning

Text book image

Macroeconomics: Private and Public Choice (MindTa...

Economics

ISBN:9781305506756

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:Cengage Learning

Text book image

Exploring Economics

Economics

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:SAGE Publications, Inc

SEE MORE TEXTBOOKS