Question

Economic resources are the natural, human, and technological inputs used to produce goods and services. natural, technological, and manufactured inputs used to produce goods and services. natural, human, and manufactured inputs used to produce goods and services. technological, human, and manufactured inputs used to produce goods and services. b. Economists classify resources as labor, land, human capital, and entrepreneurs. labor, land, real capital, and entrepreneurs. labor, land, financial capital, and entrepreneurs. labor, resources, real capital, and entrepreneurs. c. Because economic resources are used to produce goods and services, they are called (Click to select) .

Answer 1

Answer and Explanation:

A. Economic resources can be defined as the natural, human, and manufactured inputs that are used in the production of goods and services.

B. These resources are also referred to as factors of production as they fall within the factors of production such as land, labour, capital and entrepreneur. They are useful in the production process of goods and services.

C. They are called inputs. As inputs they are used in the production process and at the end of it all they bring about output for the producer.