Question

What are the three different types of economic resources?

Answer 1

The three different types of economic resources are:

Natural resources: These are resources that come from nature, such as land, water, forests, minerals, oil, gas, and wildlife.
Human resources: These are the people who work and provide labor, skills, knowledge, and abilities to produce goods and services.
Capital resources: These are the tools, machinery, buildings, and equipment used to produce goods and services. They are also called physical resources.

Answer 2

The three different types of economic resources are:

Natural resources: These are resources that come from nature and are used in the production of goods and services. Examples of natural resources include land, water, minerals, oil, and timber.
Human resources: These are resources that come from people and are used in the production of goods and services. Examples of human resources include labor, skills, knowledge, and creativity.
Capital resources: These are resources that are used in the production of goods and services but are not themselves consumed in the process. Examples of capital resources include buildings, machinery, tools, and equipment.