Logi1020: Homework 1

1. What is your understanding of what is material management?
2. What is a material resource in production or manufacturing?
3. Define RESOURCES and give 5 examples of resources?
4. What is the difference between a material resource and a tool/technological resource?
5. Give 3 examples of material resource and 3 examples of tool resource?
6. What is wealth and how can wealth be created in a macroeconomy?