There are four factors of production i.e land, labor, capital, and entrepreneur. Capital and land can be classified as non-human resources, whereas; labor and entrepreneur can be classified into human resources. Out of all the resources, human resource is the most important resource.
It is a human resource which utilizes all the resources in an effective way to produce goods and services. Laborers working in industry are crucial for running industries. They make into use machines for production. Similarly, people working in fields make use of land to grow various crops. Moreover, it is the entrepreneur which manages the entire business by efficiency utilizing all the resources.
There has been debate on the population growth as to whether it is useful or not, but the fact remains that it is human beings who make use of resources and not the resources which should determines human fate.
It is a human resource which utilizes all the resources in an effective way to produce goods and services. Laborers working in industry are crucial for running industries. They make into use machines for production. Similarly, people working in fields make use of land to grow various crops. Moreover, it is the entrepreneur which manages the entire business by efficiency utilizing all the resources.
There has been debate on the population growth as to whether it is useful or not, but the fact remains that it is human beings who make use of resources and not the resources which should determines human fate.
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