ECONOMICS
PRODUCTIVE RESOURCES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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physical capital
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entrepreneurship
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natural resources
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human resources
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Detailed explanation-1: -These resources are divided into four broad categories: natural (land), human (labor), capital and entrepreneurship. Natural resources are “gifts” of nature and include things like raw materials, water, wood, air, sunlight, soil, animals, etc.
Detailed explanation-2: -Oil, coal, natural gas, metals, stone and sand are natural resources. Other natural resources are air, sunlight, soil and water. Animals, birds, fish and plants are natural resources as well. Natural resources are used to make food, fuel and raw materials for the production of goods.
Detailed explanation-3: -Among the 4 factors of production, land is a free gift of nature to human beings, its quantity supplied is unlimited and fixed.
Detailed explanation-4: -The long range of mountains, the wide oceans, the sparkling streams, the dense forests, the animals, birds and insects are the gifts of nature.