Question

Traditional knowledge related to bio-resources can be exploited by the developed countries to develop modern applications. This is an easy way to save which of the following?

• A. Time, effort and resources
• B. Time
• C. Time and effort
• D. Effort and resources

Answer 1

The correct option is C Time and effort

Biopiracy is the use of biological resources of a country by multinational companies and other organisations without proper authorisation from concerned countries and people or without compensatory royalty payment to them.
Most developed countries resort to biopiracy because it helps them in research and development of unique products without having to spend much time and effort. Most developed nations are rich in resources, finances and technology but they either lack diversity in bioresources or the traditional knowledge to utilise these bioresources. Thus, they end up exploiting the bioresources and knowledge of the developing or underdeveloped countries for modern applications. Mostly, the poor countries are deprived of adequate compensation or equal returns on the total benefits earned by utilisation of their bioresources or knowledge.
Many developing countries have now become aware of this situation and have developed laws to prevent such cases of biopiracy.