Crude petroleum is a good example of a

  • A lasting asset
  • B wasting asset
  • C synthetic product
  • D costless resources
jamb 2020economics

The correct answer is B. wasting asset

Crude petroleum is a good example of a wasting asset.

A wasting asset is a term used to describe a natural resource that is finite and non-renewable.

It is characterized by its gradual depletion over time as it is extracted and consumed. Crude petroleum, also known as crude oil, falls under this category.

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