CHARACTERISTICS OF ECONOMIC RESOURCES.

These are ways or means required for satisfying our want or need. These resources can either be goods, services.

CHARACTERISTICS OF ECONOMIC RESOURCES.

1. They are scarce in relationto their uses
2. They have a monetary value.
3. They have alternative uses.
4. They are unevenly distributed
5. They have utility
6. Can be combined to produce goods and services. They are transferrable from one place to another.