Chapter 12, Problem 1CR

To determine

The meaning of mining. The ways in which the real cost of the gold is more than that paid by most of the people. The examples of the costs that are not accounted.

Answer to Problem 1CR

The process of extraction of a mineral from the Earth’s crust is called mining. The mining of gold is done by the use of cyanide. It requires a huge workforce and money for the extraction of gold. Thus, the real cost of gold is more than that paid by people. In addition to this, cyanide also has harmful impacts on nature.

Explanation of Solution

Mining: The process by which mineral resources are extracted from the earth is called mining. Mining provides various benefits in the form of various minerals such as iron, aluminum, and gold which are extracted by mining.

The real cost of gold is less than paid by most of the people. It is because the mining of gold requires a lot of workforce and economy. Most of the gold mining operation is done by spraying cyanide salt on the pile of crushed rocks. This solution drains off the rock piles, and gold is left. The solution of cyanide is drained into the ponds that harm the living organisms of the pond. The gold mining industries had to manage the safety of ponds also. It increases the cost of the extraction of gold. This is the reason due to which gold is sold at higher prices as compared to its real cost.

The cost that is not accounted includes water pollution in the pond, loss of plants and animals in the ponds, soil erosion, and soil pollution. Some forests are also cut down to create gold mines. So, the price of gold does not account for the harmful impact on the environment.