Asked by
Jabes37 Gonzalez
on Nov 11, 2024Verified
A resource is something that:
A) is used to produce goods and services.
B) is provided by nature,not produced by society.
C) exists in unlimited quantities.
D) must be produced by a firm.
E) is always available free of cost.
Goods and Services
Goods and services constitute the output of an economy's production activities; goods are tangible products, while services are intangible benefits or functions sold to consumers.
Resource
Assets or inputs used in the production of goods and services, including natural resources, labor, and capital.
- Acknowledge the multitude of resources and their significance in the production cycle.
Verified Answer
GM
Learning Objectives
- Acknowledge the multitude of resources and their significance in the production cycle.