Economic resources

What are financial resources?

Economic resources are those Tangible and intangible assets that generate value in the productive process of an organization.

The main objective of these resources is to satisfy the economic needs of a company and, in this way, develop products that offer a certain value to carry out economic, commercial or industrial operations.

Characteristics of economic resources

As main characteristics of the economic resources we can highlight that:

• They manage to satisfy the economic needs of a company.
• They have a specific objective or capacity.
• They regularly exist in limited quantities.
• They are very accessible goods or services, since they are available to everyone.
• They are transferable.
• They are combined with productive factors in order to produce goods and services.

Classification of economic resources

Economic resources can be classified into own and others.

The economic resources can be their own or those of others.

Own financial resources

The own economic resources come from the contribution by the partners of the company, therefore among them are usually found:

• Cash.
• Contributions of real estate by the partners.
• Accumulated reserves or benefits.

External economic resources

Those resources that They do not come from own funds, but come from third parties outside the organization.

For example, a supplier that supplies raw materials, merchandise on credit or bank loans to a company, resources that in turn must repay with capital plus interest.

When it has an external economic resource, the company must comply with the payment commitment within the estimated time, which will also allow it to increase the level of said resource.

Among them are usually found:

Importance of financial resources

Economic resources are of great importance to the development of the industrial, commercial and economic operations of a company.

To access an economic resource an investment of money is required, which can be recovered or duplicated through the optimal use of the resource.

These resources are considered productive factors, since they combine the production process to add value in the production of goods and services. It is in this way that, through these resources, Anyone can start a business and achieve financial stability.

Example of economic resources

Here are some economic resources that usually appear in organizations:

• Real estate type.
• Investment capital by the partners.
• Money from the production of a product or service.
• The furniture of the organization.