Question

define economic and non economic resources

Answer 1

Definition of Economic Resources. Economic resources are the factors used in producing goods or providing services. ... Economic resources can be divided into human resources, such as labor and management, and nonhuman resources, such as land, capital goods, financial resources, and technology. Non-Economic Activity. Meaning. Economic activity refers to a human activity related to production and consumption of goods and services for economic gain. Non-economic activity is an activity performed gladly, with the aim of providing services to others without any regard to monetary gain.

Answer 2

Answer:

Economic resources:

• Land
• Labor
• Capital
• Information
• Risk exposure
• Business reputation

Noneconomic resources:

• Teaching by father
• House work
• Work completed by house woman

Explanation:

Economic resources: An economic resource is a material or material means allowed to satisfy certain needs within a company's productive process or business activity. Therefore, these resources are essential for the development of economic, commercial, or industrial operations. Access to an economic resource entails an investment of money: the important thing for a company to be profitable is that such an investment can be obtained from the use or exploitation of the resource.

Noneconomic resources:

Non-economic activities include those activities which are not directly related to money. (ii) These activities are done in the form of service to the country, social service, and religious duty. For example, a mother cooks food for her child. Those activities which are not done for income are called non-economic activities.

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