Science Common Sense


276 - How do natural resources influence a country’s economy?

Natural resources, like water, land, and minerals, can greatly help a country's economy in several ways:

  1. Export and sell: A country with plenty of natural resources can sell them to other countries for money, which can boost its economy.
  2. Job creation: Extracting, processing, and using natural resources create jobs for people, helping them earn a living.
  3. Agriculture and food production: Land and water resources allow for agriculture and food production, which can feed the population and also be exported for profit.
  4. Energy generation: Resources like oil, gas, and solar panels can be used to generate energy, powering homes, industries, and transportation.

However, relying too much on natural resources can also have negative effects, like environmental damage and making the economy vulnerable to changes in global demand.