Countries use three types of economic resources – natural resources, labor, and capital.
Natural resources come from nature, like land, water, and minerals. Labor is what humans provide, such as expertise and skills. Capital resources include money, machinery, factories, and tools. All these resources are crucial for economic growth.
South Korea, for example, has few natural resources but is rich in skilled human resources.
Countries use three types of economic resources – natural resources, labor, and capital.