Value Creation is the process of creating new, greater value from the same, original resource. This generally occurs through manufacturing, trade, or marketing
The five principal ways to categorize resources include:
1) Natural Resources v. Man-Made Resources
2) Unlimited Resources v. Limited Resources
3) Tangible Resources v. Intangible Resources
4) Variations of Business Assets
5) Capital v. Labor
Economics is the study of how and why people, organizations, and governments create, gather, trade, and divide resources.