There are three main ways of classifying economic resources namely;
- Natural resources -They are also called the gifts of nature and are fixed in such by they are held in trust by the government for the citizens. They include; forest, river, mountain, minerals and lakes.
- Artificial resources -They are created by people through various production activities e.g. machinery,tools,roads,railway,airport,dams,bridges,h.e.p, harbours, soaps, books.
- Human resources -They are mental/physical efforts offered by people to the production society. These efforts cannot be separated from their providers e.g.teaching, health services, mechanics, carpentry, engineers etc.
(Visited 73 times, 1 visits today)