Keyword Analysis & Research: resources definition economic

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Frequently Asked Questions

What factors do economists consider to be economic resources?

The classic economic resources include land, labor and capital. Entrepreneurship is also considered an economic resource because individuals are responsible for creating businesses and moving economic resources in the business environment. These economic resources are also called the factors of production.

What are the four types of economic resources?

There are four basic types of economic resources in the world, which are land, labour, capital, and entrepreneurship. Land comprises all natural resources and supply which we require as a fundamental to the production of all goods. Labour is a measure of work done by human beings. It includes a variety of technique work.

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