Long-run economic growth is unlikely to be sustainable because of finite natural resources. In the modern economy, countries that possess few domestic natural resources essentially have no chance to develop economically. Finding alternatives to natural resources will be very important to long-term economic growth. In the modern economy, human and physical capital are generally less important in productivity than natural resources. In the 19th century, countries with the highest per capita GDP were nearly always abundant in minerals and productive farming land.

Question

Lexi Giles

Business

20 November, 08:48

Long-run economic growth is unlikely to be sustainable because of finite natural resources. In the modern economy, countries that possess few domestic natural resources essentially have no chance to develop economically. Finding alternatives to natural resources will be very important to long-term economic growth. In the modern economy, human and physical capital are generally less important in productivity than natural resources. In the 19th century, countries with the highest per capita GDP were nearly always abundant in minerals and productive farming land.

+2

Answers (1)

Know the Answer?

Mariyah Blake · Answer 1

Long-run economic growth is unlikely to be sustainable because of finite natural resources. False

In the modern economy, countries that possess few domestic natural resources essentially have no chance to develop economically. False

Finding alternatives to natural resources will be very important to long-term economic growth. True

In the modern economy, human and physical capital are generally less important in productivity than natural resources. False

In the 19th century, countries with the highest per capita GDP were nearly always abundant in minerals and productive farming land. True.

Explanation:

An economy is a zone of the creation, conveyance and exchange, just as utilization of products and ventures by various operators.

Economic growth can be characterized as the expansion in the swelling balanced market estimation of the merchandise and enterprises delivered by an economy after some time. It is customarily estimated as the percent pace of increment in genuine GDP, or genuine GDP.