write any three points describing the term 'Resources'
Answers
Answer:
Classical economics recognizes three categories of resources, also referred to as factors of production: land, labor, and capital.
Answer:
Resource refers to all the materials available in our environment which help us to satisfy our needs. Resources can broadly be classified upon their availability — they are classified into renewable and non-renewable resources. They can also be classified as actual and non - potential on the basis of the level of development and use, on the basis of origin they can be classified as biotic and abiotic, and on the basis of their distribution, as ubiquitous and localised (private, community-owned, natural and international resources). An item becomes a resource with time and developing technology. The benefits of resource utilization may include increased wealth, proper functioning of a system, or enhanced well-being. From a human perspective, a natural resource is anything obtained from the environment to satisfy human needs and wants.[1] From a broader biological or ecological perspective, a resource satisfies the