Economic Resources
Economic resources are the things that we use to produce and provide goods and services. They can be natural, like land, water, air, minerals, and forests, or they can be human-made, like factories, machines, and tools. Both types of resources are important for our economy. Natural resources are used to produce raw materials that are used in manufacturing. Human-made resources are used to create products and provide services. For our economy to function properly, we need to have a mix of both types of resources. If we only had natural resources, we would not be able to produce the products that we need. And if we only had human-made resources, we would not be able to sustain ourselves without the help of nature. The most important thing is to make sure that we use our economic resources wisely so that we can continue to enjoy the benefits they provide us.
Types Of Resources
Types of Resources: Resources refer to anything that has some utility for us and adds value to life. Air, water, food, plants, and everything else which exists in nature and has utility for mankind is known as a “Resource”. The broad types of resources include natural resources, Human-made resources, and human resources.
With technology, humans can transform a natural or even man-made substance into a resource and with time similarly add value to any resource.
Table of Content
- Types of Resources Flow Chart
- Natural Resources
- Types of Natural Resources
- Man-Made Resources
- Human Resources
- Economic Resources
- Capital Resources
- Technology Resources
- Resource Conservation
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