Consider the following statements regarding 'Non-renewable resources': 1. These resources have a fixed stock on earth which cannot be replenished. 2. New resources are never discovered; we only use what is currently known. 3. Crude oil is an example of a non-renewable resource. Which of the statements given above is/are correct?

The correct option is 1 and 3 only. Explanation In economics, natural resources constitute the factor of production termed 'Land'. These resources are classified based on their exhaustibility and rate of regeneration into renewable and non-renewable categories. Statement-wise Analysis: - Statement 1 is Correct: Non-renewable resources exist in a fixed geological stock on Earth. They are formed over geological timescales (millions of years), meaning they cannot be replenished or regenerated within a human timeframe once consumed. - Statement 2 is Incorrect: While the absolute geological stock is finite, the known reserves available for economic use are not static. New resources are frequently discovered through exploration and technological advancements (e.g., the discovery of new oil fields or shale gas reserves). Therefore, it is incorrect to state that new resources are never discovered. - Statement 3 is Correct: Crude oil is a fossil fuel formed from organic remains over millions of years. Since its rate of consumption far exceeds its rate of natural formation, it is classified as a non-renewable resource. Key Takeaway: Non-renewable resources are characterized by a fixed total stock and a regeneration rate that is negligible relative to consumption. However, the discovery of new reserves through exploration remains an ongoing economic activity.

NCERT Class 10 Economics — Chapter 1: Development

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Consider the following statements regarding 'Non-renewable resources':

These resources have a fixed stock on earth which cannot be replenished.
New resources are never discovered; we only use what is currently known.
Crude oil is an example of a non-renewable resource.

Which of the statements given above is/are correct?

Official previous-year question

Verified 1 Aug 2026.

Options

A1 and 2 only
B1, 2 and 3
C2 only
D1 and 3 only

Did you get this right?

Solution

The correct option is 1 and 3 only.

Explanation

In economics, natural resources constitute the factor of production termed 'Land'. These resources are classified based on their exhaustibility and rate of regeneration into renewable and non-renewable categories.

Statement-wise Analysis:

Statement 1 is Correct: Non-renewable resources exist in a fixed geological stock on Earth. They are formed over geological timescales (millions of years), meaning they cannot be replenished or regenerated within a human timeframe once consumed.
Statement 2 is Incorrect: While the absolute geological stock is finite, the known reserves available for economic use are not static. New resources are frequently discovered through exploration and technological advancements (e.g., the discovery of new oil fields or shale gas reserves). Therefore, it is incorrect to state that new resources are never discovered.
Statement 3 is Correct: Crude oil is a fossil fuel formed from organic remains over millions of years. Since its rate of consumption far exceeds its rate of natural formation, it is classified as a non-renewable resource.

Key Takeaway:
Non-renewable resources are characterized by a fixed total stock and a regeneration rate that is negligible relative to consumption. However, the discovery of new reserves through exploration remains an ongoing economic activity.

Your note

More from Chapter 1: Development

Consider the following statements regarding the Human Development Index (HDI): 1. It considers only the nutritional status of adults to determine the health component. 2. It compares countries based on educational levels, health status, and per capita income. 3. It is used by the World Bank to classify countries into rich and low-income categories. Which of the statements given above is/are correct?

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With reference to the developmental goals of different categories of persons, consider the following statements: 1. Developmental goals often vary as different persons can have different developmental aspirations. 2. Developmental goals of one individual are always compatible with the developmental goals of others in society. 3. Industrialists and tribals may have conflicting perspectives regarding the construction of dams. Which of the statements given above is/are correct?

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Consider the following statements regarding 'Renewable Resources': 1. Renewable resources are those which are formed over geological time scales and cannot be replenished by nature. 2. Renewable resources like solar energy are inexhaustible and cannot be overused. 3. Groundwater is an example of a renewable resource. Which of the statements given above is/are correct?

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With reference to the Body Mass Index (BMI), consider the following statements: 1. It is primarily used to measure the intelligence quotient of an adult. 2. It is calculated by dividing the weight in kilograms by the square of the height in meters. 3. This indicator is exclusively used for children under the age of 5. Which of the statements given above is/are correct?

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Consider the following statements about the Public Distribution System (PDS): 1. The functioning of PDS has no impact on the nutritional status of the population. 2. In states where PDS functions well, health status is likely to be better. 3. The nutritional status of people, influenced by PDS, is a component of the health indicator in the Human Development Index. Which of the statements given above is/are correct?

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Keep practising Chapter 1: Development

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The correct option is 1 and 3 only.

Explanation

Statement-wise Analysis:

Statement 1 is Correct: Non-renewable resources exist in a fixed geological stock on Earth. They are formed over geological timescales (millions of years), meaning they cannot be replenished or regenerated within a human timeframe once consumed.
Statement 2 is Incorrect: While the absolute geological stock is finite, the known reserves available for economic use are not static. New resources are frequently discovered through exploration and technological advancements (e.g., the discovery of new oil fields or shale gas reserves). Therefore, it is incorrect to state that new resources are never discovered.
Statement 3 is Correct: Crude oil is a fossil fuel formed from organic remains over millions of years. Since its rate of consumption far exceeds its rate of natural formation, it is classified as a non-renewable resource.