Critical Minerals, Rare Earths and Functional Materials

Consider the following statements: Statement I: Some rare earth elements are used in the manufacture of flat television screens and computer monitors. Statement II: Some rare earth elements have phosphorescent properties. Which one of the following is correct in respect of the above statements?

Recently, there has been a concern over the short supply of a group of elements called 'rare earth metals'. Why? 1. China, which is the largest producer of these elements, has imposed some restrictions on their export. 2. Other than China, Australia, Canada and Chile, these elements are not found in any country. 3. Rare earth metals are essential for the manufacture of various kinds of electronic items and there is a growing demand for these elements. Which of the statements given above is/are correct?