Resource Concept

In economy, the term resource designates all goods used in the production of other goods being able, for that, to be considered as a term equivalent to “production factor”. The issue of resources assumes a key significance for economic science. This significance lies in the fact that the resources, beyond being the production factors used in the production of goods, also being, mostly, scarce, this is, don’t exist in unlimited quantities. This scarceness of resources, forces the economic agents to make choices namely as to the way of use of that same resource to produce goods and as to the way how they are distributed among the different individuals.

 

Translated from Portuguese by Susana Saraiva, Portuguese-English and English-Portuguese translation specialist. Contact: spams@sapo.pt.