Question

Resources are: Group of answer choices inputs used to produce goods and services. the technology that firms use to make things. the output that firms produce. the institutions that encourage efficiency. the cost of producing goods and services.

Answer 1

A. inputs used to produce goods and services.

Step-by-step explanation:

Resources are inputs used to produce goods and services.

This ultimately implies that, resources refers to inputs considered to be an asset and are typically used by business owners or companies to meet the needs and wants of their customers, as well as providing satisfaction or utility to them.

In Economics, these resources are broadly grouped into three categories and these are; land, capital and labor.

Basically, the proper combination of these resources usually result in the production of finished goods and services that meets the needs and wants of various customers.