Business Studies-Resources

Question 1

What is a resources?

Answer 1

Things we need to achieve our goals

Question 2

Types of resources and explain them

Answer 2

Physical=Resources provided by people to make goods
,Human=your own personal skills and abilities
,Natural=Provided by nature
,Finacial=Allows people to buy goods and services
time

Question 3

Give an Example of these resources

Answer 3

Physical=Houses,phones
Human=Reading writing
Natural=Water
Finacial=Income
Time=Wihtout time ya cant get other resources like reading or writing

Question 4

What need and what want examp plz

Answer 4

Needs are things we cannt live without we needs these needs to be ment to urvive exWater,air,shelter
A want is something we desire a luxary item but it’s not an essetial. exPhones choclate

Question 5

HWat priotrity

Answer 5

When we need to put something important in front of toher things

Question 6

Finacial cost what it be examp plx

Answer 6

How much something xost ex I bought chocolate for mmmmmmm 4 euro so finacial cost be uh 4 euro

Question 7

WhT is do be opportunity cost yaya

Answer 7

Oportunity cost be like the thing we didnt buy when were making a choice ex I go shop I have 1 euro I get to pick between twix or snicker I get twix snicker do be the opportunity cost