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Can you explain the answer of this question below:
Pick out the correct word from the given list of options and complete the following statement: A_________________ is anything that can be used to satisfy human wants and has a value.
- A:Potential
- B:Resource
- C:Skill
- D:Patent
The answer is B.
Most Upvoted Answer
Can you explain the answer of this question below:Pick out the correct...
Resource is the correct answer.
Explanation:
A resource is anything that can be used to satisfy human wants and has a value. In economics, resources refer to all the factors of production that are used in the production process to create goods and services. Resources can be broadly classified into three categories:
1. Natural resources: These are the resources that are found in nature and can be used in their natural form or after processing. Examples include land, water, air, minerals, and forests.
2. Human resources: These are the resources that are created by human beings through education, training, and experience. Examples include labor, knowledge, and skills.
3. Capital resources: These are the resources that are created by human beings to aid in the production process. Examples include machinery, equipment, and tools.
Resources play a critical role in the economy, as they are used to produce goods and services that satisfy human wants and needs. The availability and efficient use of resources are key determinants of economic growth and development.
Explanation:
A resource is anything that can be used to satisfy human wants and has a value. In economics, resources refer to all the factors of production that are used in the production process to create goods and services. Resources can be broadly classified into three categories:
1. Natural resources: These are the resources that are found in nature and can be used in their natural form or after processing. Examples include land, water, air, minerals, and forests.
2. Human resources: These are the resources that are created by human beings through education, training, and experience. Examples include labor, knowledge, and skills.
3. Capital resources: These are the resources that are created by human beings to aid in the production process. Examples include machinery, equipment, and tools.
Resources play a critical role in the economy, as they are used to produce goods and services that satisfy human wants and needs. The availability and efficient use of resources are key determinants of economic growth and development.
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Can you explain the answer of this question below:Pick out the correct...
Hey... its very easy.... a resource satisfies human needs... None of potential, skill or development can do that... BEST WISHEZ
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Can you explain the answer of this question below:Pick out the correct word from the given list of options and complete the following statement: A_________________ is anything that can be used to satisfy human wants and has a value.A:PotentialB:ResourceC:SkillD:PatentThe answer is B.
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