what are the four different types of economic resources describe each type?
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Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services.
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There are many economies around the world. ... Economic systems can be categorized into four main types: traditional economies, command economies, mixed economies, and market economies.
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There are three kinds of productive resources: human, natural, and capital. Human resources are the strength, education, and skills of people. Natural resources are the gifts of nature that are used to produce goods and services. Water, land, and minerals are examples of natural resources.
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The four natural resources are renewable, living, non renewable, and fossil fuels.
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['Work resources − People and equipment to complete the tasks.', 'Cost resources − Financial cost associated with a task. Travel expenses, food expenses, etc.', 'Material resources − Consumables used as project proceeds. Like paint being used while painting a wall.']
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Forms of energy are just different types of energy such as heat, light, sound, kinetic and chemical. Energy resources are stores of a particular type of energy. Examples of energy resources include sunlight, wind, waves, coal and oil. Chemical energy is a type of energy.
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There are four types of industry. These are primary, secondary, tertiary and quaternary. Primary industry involves getting raw materials e.g. mining, farming and fishing. Secondary industry involves manufacturing e.g. making cars and steel.
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Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services. This includes not just land, but anything that comes from the land.
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In general, there are three types of resources or sources of information: primary, secondary, and tertiary. It is important to understand these types and to know what type is appropriate for your coursework prior to searching for information.
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Economic activities are mostly divided into four large types. These types are the primary, secondary, tertiary, and quaternary activities.
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The four natural resources are renewable, living, non renewable, and fossil fuels. They are very important to our life and existance. Renewable resorces is something that can be renewed. For an example, an apple tree.
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These resources, called productive resources, are often classified into three groups: natural resources, human resources, and capital resources. Natural resources (often called land) refer to resources such as coal, water, trees, and land itself. Raw materials used in production come from natural resources.
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['Availability of natural resources.', 'Availability of raw materials.', 'Technology.', 'Availability of capital.', 'Transport facilities.', 'Political conditions.', 'Climate.', 'Efficiency of people.']
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['Water. Like soil, water is one of the most important natural resources for the existence of life.', 'Soil. ... ', 'Timber. ... ', 'Salt. ... ', 'Oil. ... ', 'Natural Gas. ... ', 'Coal. ... ', 'Iron. ... ']
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Resource Types Resources are characterized as renewable or nonrenewable; a renewable resource can replenish itself at the rate it is used, while a nonrenewable resource has a limited supply. Renewable resources include timber, wind, and solar while nonrenewable resources include coal and natural gas.
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The different kinds of economic systems are Market Economy, Planned Economy, Centrally Planned Economy, Socialist, and Communist Economies. All these are characterized by the ownership of the economics resources and the allocation of the same.
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There are four types of expenditures: consumption, investment, government purchases and net exports. Each of these expenditure types represent the market value of goods and services.