What are the four main categories of economic resources?
Economic resources are long term assets which can be utilized for the production of goods and services for the benefit of an organization or country. Economic resources can be looked at from an organizational,local, national or global level.
All entities utilize economic resources in one form or the other and proper organization is required for the efficient management of them. The four main categories of economic resources are:
- Land – This includes things like natural resources
- Labour – These are human resources
- Capital – These are industrial capacity and financial power
- Enterprise – These are things like entrepreneurship, economic system, organization and governance.
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