Question

Natural resources, also termed as land in economics, include all those natural gifts which are on the surface, below the surface and above the surface of the earth.

• A. True
• B. False

Answer 1

The correct option is A True

Natural resources which a determinant of aggregate supply also known as land in economics refers to all the natural gifts which are present in the nature including air, water and land that can be used in the production process for the production of desired level of output in the economy. Heence it is true.