ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Productive resources are the natural resources, human resources, and capital goods available to make goods and services. Natural resources, such as land, are “gifts of nature; ” they are present without human intervention.

Detailed explanation-2: -Human, Natural, and Capital Resources Human resources are the workers. Natural resources are things that come from nature and are unchanged by human hands. Examples of natural resources are water, air, trees, minerals, and animals. Capital resources are man-made tools and equipment used to produce a product.

Detailed explanation-3: -In economics, factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.

Detailed explanation-4: -Human made resources, or capital resources, are material riches created by humans that can be used to get more wealth. Examples include money, factories, roads, and technology.