Question

What do you understand by people as a resource? And what is the difference between liability and asset in economics? Please answer ASAP and please make the answer clear.

Answer 1

Explanation:

and Liability means burden or who is useless and asset mean an ideal or the one who is useful

Answer 2

Answer:

people are a resource

Explanation:

for any economy to run it needs resources. So the basic resources are land, labour , capital. people come under the labour aspect. An asset is a thing that adds economic value and a liability is one that reduces it. for ex. there is a country, all of its money lent to other countries are assets for it and all the money borrowed from other countries are it's liabilities as it has to repay those countries