2. THE ECONOMIC RESOURCES

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Presentation transcript:

2. THE ECONOMIC RESOURCES The championship of national football league (NFL) in the states

Resources? A business needs resources to produce, distribute and sell its goods/services.

Natural resources Human resources Capital resources 3 Types of Resources Natural resources Human resources Capital resources

Materials that come from the earth, water, and air. Examples: Natural Resources Materials that come from the earth, water, and air. Examples: Most natural resources are non-renewable.

Human Resources (Labour) People who work to create goods/services. Examples:

Most capital resources last a long time, but are expensive! Everything else  Examples: Most capital resources last a long time, but are expensive!

Identify the Economic Resources Choose one good or service. Identify all resources that are required to make the good/service. Categorize the resources as natural, human, or capital resources!