Q. Consider the following statements:

1. Utility makes an object or a substance, a resource.
2. Some resources have economic value, some do not.
3. Patent means the exclusive right over any idea or invention.

Which of the above mentioned statements is/ are incorrect?
Answer: None of the above
Notes: Utility or usability is what makes an object or a substance, a resource. Value means worth. Some resources have economic value, some do not. For example, metals may have an economic value, a beautiful landscape may not. Patent means the exclusive right over any idea or invention.

This question is part of UPSC Daily 20 MCQ Series Course on GKToday Android app.