Question

the resources utilized for production are

Answer 1

Resources can be divided into three categories that is used in production. They are natural, human, and capital resources.

Natural resources are things from nature that can be used to make goods or services.

Human resources are workers that are needed to make goods and services. Capital resources includes the finances.

These are the three most important resources that no production can begin with.

Answer 2

The resources utilized for production are Materials, Machines, and manpower.

Explanation:

• The main factors that are used in ‘producing goods’ or services are the basic inputs that are used to ‘create things’ or for providing the services.

• The different resources can be divided into ‘human resources’, like labour and ‘management’, and ‘nonhuman resources’, like land, financial resources, capital goods, and technology.  

• All these resources are necessary to facilitate the process ‘production and distribution’ of ‘goods and services’ in the economy.

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