A resource is aa)Service onlyb)Good onlyc)Good or a serviced)Not a good or a serviceCorrect answer is 'C'. Can you explain this answer?

Question

Answer

A resource is good or a service because we can extract the resources from nature which can be used as a good . example : cotton is obtained from nature which we wear as a cloth so it is a good. resource is a good but we further develop it to obtain a final product which is used for making a service. example : iron obtained from mines is used to make a vehicle which is used to produce a service

Answer

A resource is good or a service when resources are extracted from soil then resources will be convert into good.so the answer is C

Answer

Answer - C

Answer

Good or a service

Answer

As we can use resource ourself...or we can sell ir so it is comapare as a boyh good nd service eg. we can sell our property to anyone we want nd use it as a good or we can make our own building as office nd employ workers nd they will work for us in return we get service

Answer

C   becoz we can extract resources from nature which can use as a good.

Answer

Definition of a Resource

A resource refers to any asset, material, or capability that can be utilized to fulfill a need or achieve a desired outcome. Resources can be classified into various categories, such as natural resources, human resources, financial resources, and technological resources. These resources can be further categorized as either goods or services, depending on their nature and characteristics.

Goods and Services

Goods are tangible, physical products that can be seen, touched, and typically stored. Examples of goods include clothing, furniture, electronic devices, and food items. Goods are typically produced, manufactured, and distributed to meet the demands and needs of consumers. They can be bought, sold, and transferred from one party to another.

On the other hand, services are intangible, non-physical activities or performances that are provided to satisfy a particular need or want. Services are usually performed by individuals or organizations with specific expertise or skills. Examples of services include healthcare, education, transportation, banking, and consulting. Services are consumed or experienced by customers and cannot be stored or transferred in the same way as goods.

Resources as Goods or Services

A resource can be categorized as either a good or a service based on its characteristics and how it is utilized. Some resources can be both a good and a service, depending on the context and manner in which they are used.

For example:
- Natural resources such as oil, gas, minerals, and timber can be extracted, processed, and transformed into goods like fuel, construction materials, and paper. These resources can also be utilized as inputs in various services such as energy production, manufacturing, and forestry.
- Human resources, such as the skills, knowledge, and abilities of individuals, can be utilized in the production of goods or the provision of services. For instance, a carpenter's skills can be employed to manufacture furniture (a good) or provide carpentry services (a service).

Conclusion

In conclusion, a resource can be classified as either a good or a service, depending on its nature and utilization. While goods are tangible and physical products that can be bought, sold, and stored, services are intangible activities or performances provided to fulfill specific needs or wants. Some resources can serve both as goods and services, depending on their application and context. Therefore, the correct answer to the question is option C: a resource can be a good or a service.

Answer

A good or service

Answer

I think the resources are the sources by which we manufacture or produce goods and as well as services

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