√ Definition of Economic Resources, Classification of Types & Their Role
Definition of Economic Resources, Classification of Types & Their Role – In this discussion we will explain Economic Resources. Which includes the definition, classification of types and roles of economic resources with complete and easy to understand explanations.
Definition of Economic Resources, Classification of Types & Their Role
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Understanding Economic Resources
Economic resources are all tools that can be used by humans with the aim of fulfilling their life needs. As is known, humans are economic creatures so they never feel satisfied.
This is what makes humans always have to try to fulfill their needs. To meet these needs, various tools are needed. All types of tools used in the economy and to fulfill life's needs are called economic resources.
Classification of Types of Economic Resources
Judging from the outline, economic resources are divided into three types, namely natural resources (SDA), human resources (SDM) and capital resources.
Natural Resources (SDA)
Natural resources are everything that exists in the natural environment and can be used to become goods or services that are used to fulfill human needs.
In simple terms, human needs can be met by nature. Because most human needs come from tools such as food, shelter, and so on. Although there are some items that have to go through the production process first. Natural resources are divided into two types, namely:
Renewable Natural Resources
Renewable natural resources are cyclical natural resources that can still increase with the presence or absence of human intervention.
Examples of natural resources that can be renewed are water, land, wind, land animals, aquatic animals, nuclear, plants, plants, trees, etc.
Non-renewable Natural Resources
Non-renewable natural resources are natural resources that have limited quantities and require a very long process to make these natural resources available again.
Examples of natural resources that cannot be renewed include gold, coal, petroleum, natural gas, copper, diamonds, iron and others.
Human Resources (HR)
Human resources are the most important economic resources, because a country's economy is influenced by the human resources that exist in that country. The prosperity of a country is guaranteed if people have high quality human resources.
To achieve high quality human resources, this can be done through education.
Education that must be emphasized is related to the quality of human resources, including science and technology. The aim is to develop science and technology to increase competitiveness.
There are several elements that must be present to help form the quality of human resources. These elements include the following:
- Morals
- Skill
- Physical strength
Capital Resources
Capital relates to things used to produce goods and services. Capital resources are not only in the form of money but can also be in the form of other things. Several tools that can be divided as capital include money, land, information, technology, equipment, and so on. Capital can be classified into several types, including:
Capital According to Owner
According to the owner, capital is divided into two types, namely:
- Individual Capital
- Community Capital
Capital According to Its Form
According to its form, capital is divided into two types, namely:
- Concrete Capital (Real Capital), is capital that can be seen, measured or weighed. Like money
- Abstract Capital is capital that cannot be seen but the results can be felt. Like skills.
Capital According to Its Nature
According to its nature, capital is divided into two types, namely:
- Fixed capital. Is capital that can be used repeatedly during the production period. Like machines and offices
- Current Capital. Is capital that will be used up in one production. Like paper money
Capital According to Its Form
According to its form, capital is divided into two types, namely:
- Money
- Goods
Capital According to the Source
According to the source, capital is divided into two types, namely:
- Owner's equity
- Loan Capital
The Role of Economic Resources in Development
In development, economic resources that play a very important role are human resources and natural resources. The purpose of this development is to advance the economy in a country. Much development has been carried out in the agricultural, fisheries and marine sectors.
The thing that is often emphasized in development is improving the quality of human resources. With high quality human resources, the pace of development will be faster and the time needed to improve economic conditions will be shorter.
Human resources have many important roles as workers, experts, company leaders, producers, entrepreneurs, creators and developers of science and technology and also play a role in organizing the use of various factors production.
Thus has been explained about Definition of Economic Resources, Classification of Types & Their Role, hopefully it can increase your insight and knowledge. Thank you for visiting and don't forget to read other articles.
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