Resources can be divided into _____.
A) people, money, and machines
B) savings, spending, investment, and capital
C) human resources, technology, and government
D) natural resources, labor, capital, and entrepreneurial ability
E) income, interest, and expenditure

Question

Quizplus · Accepted Answer

Resources can be broadly categorized into natural resources (such as land, water, minerals, etc.), labor (the human effort involved in producing goods and services), capital (the tools, machinery, equipment, etc. used in production), and entrepreneurial ability (the ability to organize and combine the other resources in order to produce goods and services efficiently). This is commonly known as the four-factor model of production. Therefore option D is the correct answer.

Resources Can Be Divided into _____