Role of resources in Economy?

Question

What is the Role of Resources in Economy?

Advance Thank you....

Answer 1

An economies resources are kind of like the cereal inside the box.  You want to pour yourself a bowl and reach for the box, but if nothing comes out it's because you lack cereal.

Answer 2

in economics there are three scarce economic resources: land, labor and capital.

some economists are calling entrepreneurial ability the fourth, but this is a really just an acknowledgment of the role of the entrepreneur or capitalist in the market, more than an actual scarce resource.

but the role of these resources is for them to be converted into finished goods and services to supply the necessaries of life.