Economics- Productive Resources

Introduction

Productive resources are anyting used to produce goods & services.

3 Types are:

Human- Labor

Capital- Capital Goods

Natural- Land

Task

SS3E1 The student will describe the four types of productive resources:

a. Natural (land): "Gifts from nature that have not been changed by humans.

b. Human (labor): Human labor that goes towards production.

c. Capital (capital goods): Goods made by people and used to produce other goods and services.

Press play to watch the video below about productive resources to learn more about each type!

Evaluation

Now let's decide the correct category for each word!

Am I a Human, Land, or capital resource????

For each number listed, determine which one is a human resource, which is a land resource, and which is a capital resource.

(There will be one capital resource, one natural resource, and one human resource in each number.)

1. Coal, Blacksmith, Buildings

2. Water, Farmer, Tools

3. Baker, Trees, Equipment

4. Factory worker, Machines, Land

Conclusion

Productive resources are anything used to produce goods and services.

There are 3 kinds of productive resources:

1. Natural (Land)

2. Human (Labor)

3. Capital (Capital Goods)

Compare your answers from the previous page with the ones in the chart and see how many you got right!

PRODUCTIVE RESOURCES