Wreznal A.

Ganiela
ABM- 12

ACTIVITY 2

1. The different types of economic resources are Land, Labor, Capital, and Entrepreneurship
- An example of land economic resources are water, natural gas, coal and forest. The importance
of land economic resources is to provide assets to businesses that can help them to producue
products. Next is, Labor examples of labors in economic resources are construction workers,
factory employees and many more. The importance of labors in economic resources is they are
the one who convert raw to materials into useful goods. Examples are Food, Craft works and
many more. Third is Capital in economic resources examples are tools, buildings, machinery and
other goods people make to procude goods and provide services. The importance of capital in
economic resources is it will keep companies to remain productive and keep serving customers.
Lasttly is entrepreneurship in economic resources and examples are profit, income and
enterprise. The importance of entrepreneurship in economic resources is that it will help to
identify market opportunities ang allocate resources in the most effective way.