Define productive resources

Economics Dec 24, 2020

Expert Solution

Productive resources are the resources that are used to create goods and services. There are three main types of productive resources, which include natural resources, human resources, and capital resources.

Natural resources refer to resources provided by the land (trees, water, coal, soil). Human resources is also known as labor and refers to physical and mental work of people. Capital resources are man-made resources such as tools, machines, and buildings.

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