Important choices involve how much time to devote to work, to school, and to leisure, how manydollars to spend and how many to save, how to combine resources to produce goods andservices, and how to vote and shape the level of taxes and the role of government.people appear to use their resources to improve their well-being. Well-being includes thesatisfaction people gain from the products and services they choose to consume, from their timespent in leisure and with family and community as well as in jobs, and the security and servicesprovided by effective governments. Sometimes, however, people appear to use their resources inways that don't improve their well-being.
Resources have three main characteristics:
quantity (often in terms of availability),
Types of resource
1. Natural resources
Natural resources are derived from the environment. Many of them are essential for our survival whileothers are used for satisfying our needs.
2. Human resources
Human beings are also considered to be resources. Human Resources defined as a human¶s skills,energies, talents, abilities and knowledge that are used for the production of goods or the rendering of services.In a project management context, human resources are those employees responsible for undertaking theactivities defined in the project plan.
3. Tangible / intangible resources
Resources may be split into tangible and intangible resources.Tangible resources are those resources like equipment, vehicles which have actual physicalexistence;Intangible resources are things like corporate images, brands and patentes that are present butcannot be grasped or contained.
What is Demand?
Demand is how much of something people want. It sounds a little bit harder to measure, but itreally isn't. To measure demand, we can use a very simple numbering system, just like the supply
Characteristics of resources