There are three kinds of economic resources,natural human and capital true or false
True
True.
True. There are indeed three types of economic resources: natural resources, human resources, and capital resources.
- Natural resources: These are materials or substances that occur naturally in the environment and are used in the production of goods and services. Examples include land, water, minerals, and natural gas.
- Human resources: These refer to the labor or human effort put into the production process. Human resources include the physical and mental abilities of individuals and their skills, knowledge, and experience.
- Capital resources: These are man-made resources that are used to produce goods and services. Capital resources include tools, machinery, buildings, infrastructure, and technology.
To arrive at this answer, you can refer to any introductory economics textbook or search for the definition of economic resources online.