List the three types of productive resources

Answer 1

The three types of productive resources are:

1. Natural resources: These are resources that come from nature, such as land, water, minerals, forests, and oil. Natural resources are essential for the production of goods and services.

2. Human resources: These refer to the labor, skills, knowledge, and abilities of individuals involved in the production process. Human resources include workers, entrepreneurs, managers, and professionals who contribute their expertise to the production and distribution of goods and services.

3. Capital resources: Also known as physical capital or manufactured resources, these include machinery, tools, buildings, technology, and equipment used in the production process. Capital resources are man-made and are used to enhance and facilitate the production of goods and services.