Types Of Resources Economics. Labour is a measure of work done by human beings. There are four basic types of economic resources in the world which are land labour capital and entrepreneurship.
Labour is a measure of work done by human beings. Economists often refer to these three resources as the factors of production. The four types of economic resources are labor land capital and entrepreneurship.
The term land is used to describe all natural resources which are used in the process of production and yield income.
Land comprises all natural resources and supply which we require as a fundamental to the production of all goods. Labor refers to the workers involved in production. These resources are also called the factors of production. Workers have different work.
