NABTEB Economics 2022 Objective — Question 3

Question 3 of 50 from the National Business and Technical Examinations Board (NABTEB) Economics 2022 Objective paper, with the correct answer and a full explanation.

A major characteristic of natural resources is that they

A. are unlimited in supply
B. have high cost of production
C. are free gifts of natureCorrect
D. do not command any price

Explanation

Natural resources are resources created by nature (i.e. God) and are regarded as free gifts of nature because they have no cost of production.

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