Resources are materials, objects, and natural things used to fulfill human needs.
Capital resources are the tools, machines and buildings used to make to make goods and provide services.
Examples:
• Factory
• Hammer
• Computer
Human resources:
Human resources are the people like painters or builders who work and provide skills and labor.
Natural resources:
Natural resources are materials found in nature, like water, trees and minerals and can be used to make products.
Scarcity means there is not enough of something to meet everyone’s needs
Example:
If there is a drought, that creates scarcity of water
Goods:
Books: For reading and learning.
Toys: For fun and play.
Services:
Teachers: Help us learn new things.
Doctors: Keep us healthy and help when we are sick.
