Question

1. In economics, natural resources not ceated by people ae called

Answer 1

ANSWER:

• In economics, "natural resources" not created by people are called land.

• The tools we use to create goods are called​ capital.

EXPLANATION:

• In economics, natural resources not created by people in the factors of production are "land, labor, and the capital".

• Out of these factors of production, land and labor are two things that not created by people. These two resources  are utilized in the production process to create output, i.e "finished goods and services".

• Land refers to the geographic area or territory which is all the gift of nature and is not created by human effort.

• Labor refers to the individuals who utilize their skills, abilities, and efforts to manufacture or utilize the capital in the production of those goods and services.
• Capital refers to the equipment, technology, factories, and tools which are used in the production and manufacturing of "goods and services". Hence, these are the factor of production.