List the three types of productive resources
The three types of productive resources are:
1. Natural resources: These are resources that come from nature, such as land, water, minerals, forests, and oil. Natural resources are essential for the production of goods and services.
2. Human resources: These refer to the labor, skills, knowledge, and abilities of individuals involved in the production process. Human resources include workers, entrepreneurs, managers, and professionals who contribute their expertise to the production and distribution of goods and services.
3. Capital resources: Also known as physical capital or manufactured resources, these include machinery, tools, buildings, technology, and equipment used in the production process. Capital resources are man-made and are used to enhance and facilitate the production of goods and services.
The three types of productive resources are:
1. Natural resources: These are resources that occur naturally in the environment and are used in the production of goods and services. Examples include water, land, minerals, oil, and forests.
2. Human resources: These refer to the human effort, skills, knowledge, and abilities that are used in the production process. It includes the labor and expertise provided by individuals, as well as their educational background and training.
3. Capital resources: Capital resources are man-made goods used in the production process. They include tools, machinery, buildings, equipment, and infrastructure. These resources are created by using human and natural resources.