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ECS1501 ASSIGNMENT1 SEMESTER2 2023
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This is assignment 1 for ECS semester 2.
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assessment 1Open course index
Started on Monday, 31
July 2023,
10:53 AM
State Finished
Completed on Monday, 31
July 2023, 11:03
AM
Time taken 10 mins 16 secs
Marks 14.00/15.00
Grade 93.33 out of 100.00
Question 1
Complete
Not graded
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Question text
, I confirm
that this assessment will be my own individual work;
that I will not communicate with anyone else in any way during the completion of this
assessment;
that I will not cheat in any way in completing and submitting this assessment.
I confirm.
I do not confirm.
Question 2
Complete
Mark 0.00 out of 1.00
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Question text
What are the three main groups of resources classified in economics?
Man-made resources, human resources, and capital resources.
Natural resources, social resources, and man-made resources.
Natural resources, human resources, and man-made resources.
Natural resources, human resources, and financial resources.
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Resources include everything in the world around us that we can use to produce goods and
services to satisfy our needs and wants. It is classified into the following three main groups:
· natural resources, such as land, water, minerals, animals and plants
· human resources, such as entrepreneurs or labour such as economists, builders,
architects, accountants, lawyers and cleaners
· man-made resources such as machines and infrastructure that are available to use to
produce goods – in economics we call these resources capital.
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