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Question
Which of the following is/are the kinds of economic resources?
Options
Natural Resources
Capital Resources
Human Resources
All of these
MCQ
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Solution
All of these
Explanation:
There are four types of economic resources:
- Natural (air, water)
- Capital (machines)
- Human (labour)
- Entrepreneurial (a person who bears the risk and integrates all other resources to produce output.)
As a result, we can classify all of the aforementioned resources as economic resources.
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