An economic system is a system that distributes goods and services by using different types of resources. The main objective of economic systems is to satisfy people's needs and wants in the must effective and efficient way. Economic systems, as any other system, requires an input (in this case resources) and has an output (which means the goods and services)
The resources used by an economic system, can be classified into 3 different categories:
- Natural Capital
- Human Capital
- Manufactured Capital
Natural resources, which are the ones provided by Natural Capital, are classified in the following categories:
- Renewable
- Non renewable
- Replenishable
- Recyclable
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