which are the three types of productive resources? select all that apply.
1. Land
2. Labor
3. Capital
To identify the three types of productive resources, we need to refer to the field of economics. The three types of productive resources are:
1. Natural Resources: These are materials or substances found in nature that are used for economic production. Examples of natural resources include water, land, minerals, oil, and timber. To determine this answer, you can recall basic knowledge of economics or refer to a reputable economics textbook or online resource.
2. Human Resources: Also known as labor, human resources refer to the physical and mental efforts exerted by individuals in the production of goods and services. This includes the skills, knowledge, creativity, and labor force of a society. To confirm this answer, consult any introductory economics resource or textbook.
3. Capital Resources: Capital resources are man-made goods used in the production process to create goods and services. This includes tools, machinery, buildings, equipment, and technology. Capital resources are different from financial capital (money) but rather the physical assets used in production. You can find this answer in any basic economics textbook, or refer to reputable online economics resources.
So, the correct answer is:
- Natural Resources
- Human Resources
- Capital Resources
The three types of productive resources are:
1. Natural resources: These are resources that come from the Earth, such as land, water, minerals, and forests.
2. Human resources: These refer to the people who contribute their knowledge, skills, and labor to produce goods and services.
3. Capital resources: These are man-made tools, equipment, buildings, and machinery used in the production process.