Which is a correct example of a resource?
Answer and explanation
Correct answer: Money and labour
A resource is a useful input or means employed to achieve an objective. Money can purchase inputs and finance operations, while labour provides human effort, knowledge, and skills. Time, materials, equipment, and information can also be resources. Laziness, confusion, and excuses do not help produce the desired business output.
Frequently asked questions
What is the correct answer to this question?
Money and labour
Why is this the correct answer?
A resource is a useful input or means employed to achieve an objective. Money can purchase inputs and finance operations, while labour provides human effort, knowledge, and skills. Time, materials, equipment, and information can also be resources. Laziness, confusion, and excuses do not help produce the desired business output.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: Business, Trade and Commerce. Topic: Concept, characteristics and objectives of business.
