Question

distinguish between resource and natural stuff?

Answer 1

1. Resources that we find in nature and are used without much modification are called Natural Resources. Resources created by human beings are called Manmade Resources.

2. The Example of Natural Resources are Air, Water, Soil, Sunlight, Minerals, Flora & Fauna, etc. Examples of Manmade Resources are Buildings, Roads, etc.

3. All the natural resources are free gifts of nature and can be used directly. Technology is also a human made resource.

Answer 2

The difference between a resource market and product market within a circular flow model is actually defined in the name of both. In the resource market, that is where resources are obtained in order to produce or manufacture a certain good. Resources can range from anything from natural resources, to human labor, to capital, and even technology. Resources are what is necessary to begin creating a product and ultimately manufacturing and finishing it.

The product market however, is where the produced goods are after being completed. When a good is produced, it will move over to the product market to be bought and sold to consumers by sellers or manufacturers.