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What does scarce economic resources mean?
Scarcity is the basic economic problem that arises because people have unlimited wants but resources are limited.
Classification of economic resources?
there are two types of economic resources: a. Property resources b. human resources
What are economic resourses?
Economic resources are resources that help the place.
What does efficient resource allocation mean?
economic resources-land, labor and capital-will be used for their most valuable purposes.
What categories do economists use to classify economic resources?
Economic resources are classified into two categories. These are natural resources (land), and human-made resources which (capital, enterprise and labor.)
What does scarce economic resources mean?
Scarcity is the basic economic problem that arises because people have unlimited wants but resources are limited.
What are economic resourses?
Economic resources are resources that help the place.
Classification of economic resources?
there are two types of economic resources: a. Property resources b. human resources
What does efficient resource allocation mean?
economic resources-land, labor and capital-will be used for their most valuable purposes.
What are economic resources including natural resources and capital resources?
factors of productions
What categories do economists use to classify economic resources?
Economic resources are classified into two categories. These are natural resources (land), and human-made resources which (capital, enterprise and labor.)
What is economic resource difficulty?
The main economic resource of difficulty is scarcity of resources.
What do you understand by basic economic problem?
The basic economic problem is scarcity of resources which is caused by the existence of alternative uses of resources
What are the three types of resources of economics and why?
what are the 3 types of economic resources
What question must be asked about resources in an economic system?
How are the resources distributed?
What are the economic resources of Texas?
industry
What is the major economic resources?
Oil.
