Crude petroleum is a good example of a?

Assessment: JAMB UTME - Economics - 1998 Subject: Economics

Question 1 Report

Crude petroleum is a good example of a?
Answer Details
Crude petroleum is a good example of a **wasting asset**. This is because it is a non-renewable resource that is finite in quantity and will eventually be depleted with time. As petroleum is extracted from oil wells and consumed, the amount of crude oil available for future use decreases. Once the oil reserves have been depleted, it cannot be replaced or regenerated, making it a wasting asset.
Read lesson note on Petroleum And The Nigerian Economy (JAMB)
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