Question
Distinguish between the following terms.
(a) Comforts and luxuries
(b) Human resources and man made resources.
(c) Renewable resources and Non-renewable resources
(a) Comforts and luxuries
(b) Human resources and man made resources.
(c) Renewable resources and Non-renewable resources
Answer
(a) Comforts and luxuries
Comforts are wants that improve one's living standards beyond the level of mere survival while luxuries are wants that provide excessive comfort
(b) Human resources and man made resources.
Human resources are human beings rendering services in production Man-made resources are those that are created by human beings to be used in satisfying their wants
(c) Renewable resources and Non-renewable resources
Renewable resources are those whose supply can be restored and if they are not creating of goods and services is reduced while Non-renewable resources are those whose supply cannot be restored after use.
Comforts are wants that improve one's living standards beyond the level of mere survival while luxuries are wants that provide excessive comfort
(b) Human resources and man made resources.
Human resources are human beings rendering services in production Man-made resources are those that are created by human beings to be used in satisfying their wants
(c) Renewable resources and Non-renewable resources
Renewable resources are those whose supply can be restored and if they are not creating of goods and services is reduced while Non-renewable resources are those whose supply cannot be restored after use.
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