Asked by
Brandon McNair
on Dec 19, 2024Verified
Money is an economic resource referred to as capital.
Economic Resource
Assets, materials, or inputs used to produce goods and services and satisfy human wants, including land, labor, capital, and entrepreneurship.
Capital
Man-made physical objects (factories, roads) and intangible ideas (the recipe for cement) that do not directly satisfy human wants but which help to produce goods and services that do satisfy human wants; also called capital goods. One of the four economic resources.
- Distinguish the features of economic resources and make distinctions among them, such as land, labor, and capital.
Verified Answer
ZR
Learning Objectives
- Distinguish the features of economic resources and make distinctions among them, such as land, labor, and capital.