Name to type of reasourse needed for plannning with example
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The three types of economic resources — also referred to as the “factors of production” — are natural, human, and capital resources.
“Natural resources” refers to the “materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.” They cannot be manufactured by humans, although they can be influenced. You cannot magically build a tree, however, you can grow one, or even a forest, should you desire. Natural resources occur in nature and are re-purposed by humans.
“Human resources,” or “human capital,” refers to “people who make up the workforce of an organization, business sector, or economy.” Human resource is simply another way of saying people who work, or have jobs.
“Capital resources” refers to the “goods made and used to produce other goods and services” — for example, machinery in a factory, or the items the factory makes.
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Hareem
Hareem, Financial Services Strategy Analyst
Answered Jan 1
“Natural resources” refers to the “materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.” They cannot be manufactured by humans, although they can be influenced. You cannot magically build a tree, however, you can grow one, or even a forest, should you desire. Natural resources occur in nature and are re-purposed by humans.
“Human resources,” or “human capital,” refers to “people who make up the workforce of an organization, business sector, or economy.” Human resource is simply another way of saying people who work, or have jobs.
“Capital resources” refers to the “goods made and used to produce other goods and services” — for example, machinery in a factory, or the items the factory makes.
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Hareem
Hareem, Financial Services Strategy Analyst
Answered Jan 1
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