ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Natural Resources
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Human capital
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Goods and Services
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Gross Domestic Product
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Detailed explanation-1: -Expert-Verified Answer. Answer: Capital resources can be a source of income when exported.
Detailed explanation-2: -All goods and services are produced using productive resources (also known as factors of production). These resources are divided into four broad categories: natural (land), human (labor), capital and entrepreneurship.
Detailed explanation-3: -There are three basic productive resources: natural resources, human resources, and capital resources. Natural resources are things such as minerals, water, trees, and land itself. Several types of natural resources are used to make a pair of jeans. It takes land to grow cotton.
Detailed explanation-4: -Productive resources are input resources required in the production of goods and services. An economic resource is something is relied on and used to achieve an economic goal.
Detailed explanation-5: -Resources like capital and land are more important than human resources. Assertion (A): Human resources occupy greater importance in production than natural resources and material resources. More items