Natural Resources

Natural Resources

1. Labour

   • human effort provided in the creation of products
   • the labour force is a human resource

2. Capital

   • human-made goods or means of production e.g. machinery, buildings etc.
     • key to developing natural resources into products

3. Entrepreneurship

   • knowledge, ideas, planning and finance that enables the other types of resources to come together to create a finished product

4. renewable resources

   • won't run out - e.g. water (wave power), wind and solar)
     • also includes managed forestry / farming
     • wood, agriculture and fish require careful management and can only function in a careful balance
   • less polluting and better for environment
     • can be difficult and expensive to harness effectively without the right infrastructure