Economic Resources In America

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Countries Resources In America, we have the privilege to use people, machines, factories, plants, and animals to produce economic goods. Economists have simplified all those sperate things down into four categories. The first one being land which includes, water, plants animals, and oil. The second category capital is anything that when items are manufactured to be used for the production of goods or services. Lastly, we need entrepreneur who is someone who has an idea to make a financial product that will benefit our nation. Being an entrepreneur though isn’t a simple task one needs to be aware of the risk that one will have to take to get the reward. In the United States we are blessed with fertile land and water. We have endless …show more content…
Labor deals with the number of workers that we have available and the level of skill that they have for our employers. While America has a more significant, skilled and mobile worker force, this creates a problem because many of our essential trade jobs are going unfilled. Sime of these manual labor position requires physical work with little to no formal education or training. These jobs have been filled by many of our immigrants coming in. One would think that with an increase in populations, we could necessarily have a more considerable productive workforce that would ideally have a higher output of goods and services. It seems though that our country struggling to find adequate workers. This adequate worker is forcing many of the American jobs to be outsourced. They can go overseas and keep their labor costs down because their workers can work for less because of their lower standard of living and emerging markets over there. This comes at a good time though cause our generation is known realizing the roles that will have to be filled since the baby boomers are aging.
Capital is an investment that turns money into assets. This could be roads, airports, bus stations, machinery or and equipment that are used to increase the output of a product or service. Although since the Great Recession we have not been able to return to the average level of good capital production. As a result, many companies are not investing in any new equipment because the risk is too high yet. What they are doing instead is repurchasing stock shares, purchasing new businesses, and looking for overseas
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