Definition of Economic Resources?


The economical definition of a resource is a commodity or service used to meet human needs and desires. In the categorization of economic resources, there is entrepreneurship, land, labor, and capital. Entrepreneurs are leaders and visionaries. Land includes natural resources and raw materials. Labor includes the work of humans. And, capital is the goods made by humans.
Q&A Related to "Definition of Economic Resources?"
Economic resources deal with the production, distribution, and
Three basic resources are found in the study of economics: land, labor and capital. Other resources are included as well, such as entrepreneurship, time and profit, although they
having no economic importance or implication.
The most comprehensive source is Handbook of Health Economics by Newhouse et al. If you don't feel like reading a brick, JAMA, NEJM, and Health Affairs have been publishing the most
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