Resources are a kind of supply that can be drawn on by a person or organization in order to function and execute plans and projects. Resources can be in the form of money, material, staff, energy, expertise, time and management, among other things. Resource is a broad term and its definition varies across fields — economics, biology and ecology, computer science, management, and human resources. In economics, resource is defined as a service or other asset used to produce goods and services that meet human needs and wants. Also referred to as factors of production, economics classifies resources into four categories — land, labor, capital and enterprise. More recently, technology has also been recognized as a factor of production.
- ↑ Defining Resources - What is a Resource? Business Standard