1. (Factors of Production)
Economic Resources
(Factors of Production)

2. Natural Resources Materials that come from the:
Earth
Water
Air
Examples: iron ore, gold, oil, trees, wildlife, oxygen, etc
These resources are limited and most are non-renewable

3. Natural Resources

4. Capital Resources Equipment and money used for business purposes
Examples: buildings, tools, trucks, factories, money spent on acquiring these things
Capital resources usually last for a long time

5. Capital Resources

6. Human Resources Also called “Labour”
The people who work to create the goods and services
Examples: farmers, factory workers, construction workers, website designers, nurses, doctors, teachers, pilots, etc
Includes both physical and mental labour

7. Human Resources