Get premium membership and access questions with answers, video lessons as well as revision papers.

Highlight four characteristics of economic resources

      

Highlight four characteristics of economic resources

  

Answers


Davis
a] Scarce in supply
b] Have money value
c] Unevenly distributed
d] Have utility
e] Have alternative uses
f] Can change ownership
g] Can be combined
h] Can be complimentary
OR
Explain five characteristics of economic resources.
- Are scarce/limited in supply-----one cannot have all economic resources they may want.
- Have money value----you can attach monetary value on them.
- Have utility----are useful and can satisfy a want.
- Most are transferable---some can be moved from one place to another eg man made resources
- Are unevenly distributed----some areas /country have more than others.
- Have alternative uses---- usage can be changed to areas of better/more returns.
- Can be combined to produce goods---different raw materials can be combined to come up with
a new product.
Githiari answered the question on September 22, 2017 at 20:46


Next: What factors may encourage entrepreneurship in Kenya
Previous: Give four reasons why one would prefer a letter to a telephone to send a message.

View More Business Studies Questions and Answers | Return to Questions Index


Learn High School English on YouTube

Related Questions