Question

Economic resources are the______________.

Answer 1

Answer:

c. natural, human, and manufactured inputs used to produce goods and services is the correct answer.

Explanation:

• Economic resources are the inputs used in providing services and goods.

Economic resources are of four types

• land: includes all natural resources which are gifts of nature.

• Labor:all the efforts done by human mentally and physically to earn an income is known as labor.

• Capital: includes all the manmade resources that are used in the production method such as factories, appliances, machines, tools, raw supplies, wealth, etc.

• An entrepreneur: a person that organizes, manages a business and undertakes the uncertainties and difficulties involved in the production.