Question

Identify at least two resource from each categories

Answer 1

Economists have long recognized three distinct types of economic resources that people use to create the things they want. Natural Resources, Human Resources, and Capital Resources are the three types of economic resources, and they are also referred to as "factors of production".


Classical economics recognizes three categories of resources, also referred to as factors of production: land, labour, and capital. Land includes all natural resources and is viewed as both the site of production and the source of raw materials.



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