A resource is anything that:A) can be used in production.B) you pay for.C) is in scarce supply.D) can be consumed.

Question

Taylor Faulkner · Accepted Answer

Final Answer : A, Explanation :  A resource is defined as anything that can be used in production. This includes both natural resources (such as coal, oil, and timber) and human resources (such as labor and entrepreneurship). The key characteristic of a resource is that it is used to create goods or services that are valuable to individuals and society as a whole. Resources can be produced (such as machinery and technology) or they can be found in nature, but in either case, they are valuable because they are necessary for production.

A resource is anything that:

A) can be used in production.
B) you pay for.
C) is in scarce supply.
D) can be consumed.

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Learning Objectives

Learning Objectives

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