What is resources. Explain type of resources, with example.
Answers
Answer:
Resources are anything that has utility and adds value to your life. Air, water, food, plants, animals, minerals, metals, and everything else that exists in nature and has utility to mankind is a 'Resource'. The value of each such resource depends on its utility and other factors.
Biotic natural resources also include fossil fuels such as coal and petroleum which are formed from organic matter that has decayed. Abiotic: these resources come from non-living and non-organic material. Examples of these resources include land, fresh water, air, and heavy metals (gold, iron, copper, silver, etc.).
Explanation:
In economics a resource is defined as a service or other asset used to produce goods and services that meet human needs and wants. Economics itself.
There are four type of resources. They are :-
- land
- labour
- capital
- entrepreneurship
Land :
In economics, land comprises all naturally occurring resources as well as geographic land. Examples include particular geographical locations, mineral deposits, forests, fish stocks, atmospheric quality, geostationary orbits, and portions of the electromagnetic spectrum. Supply of these resources is fixed.
Labour :
Labor relations are the term used to define the process between employers and employees, management and unions in order to make decisions in organizations. The decisions taken refer to wages, working conditions, hours of work, and safety at work, security and grievances.
Capital :
Human capital is an intangible asset or quality not listed on a company's balance sheet. ... This includes assets like education, training, intelligence, skills, health, and other things employers value such as loyalty and punctuality. The concept of human capital recognizes that not all labor is equal.
Entrepreneurship :
Human resources (HR) is the division of a business that is charged with finding, screening, recruiting, and training job applicants, and administering employee-benefit programs.