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4 Types of Resources
- 1. Labor: includes all types of work, ex: human capital (knowledge & skills)
- 2. Capital aka Physical Capital: manufactured resources like building, equipment, machines
- 3. Natural Resources: land, location, climate, water, vegetation, nature, gifts of nature
- 4. Entrepreneurship: operating business, bringing together factors of production to produce and sell goods and services
- 4. Entrepreneurship: operating business, bringing together factors of production to produce and sell goods and services
- 3. Natural Resources: land, location, climate, water, vegetation, nature, gifts of nature
- 2. Capital aka Physical Capital: manufactured resources like building, equipment, machines
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