Introduction

What are the resource ? Resource an economic or productive factor required to accomplish an activity, or as means to undertake an enterprise and achieve desired outcome. Three most basic resources are land, labor, and capital; other resources include energy, entrepreneurship, information, expertise, management, and time. Our own rather separate it into 6 parts: -Land and natural resources. Land is important, because in this land production process can be carried out. In this land of factory buildings can be erected. Furthermore land can be used for agriculture, road construction and so. While natural resources such as tin, oil, iron, gold, timber and thousands of these types of natural resources there are similar is in or on the ground. Natural resources will be used as raw material in a production process. -Labor Human labor is used in the process production. How much of it is used in a production process depending on the level of technology used and the efficiency of owned by the workers. -Capital Different capital and labor and land. Capital acts as input or factors on the production process, but at the same time it also is an output or product of a process of production. For example a car, the truck is treated as capital goods used to produce an article, but this truck itself is the result output of the production process, namely the production of industrial trucks. Thus, the capital here can be defined as goods output (the output of production process - industry, others) used as input to one production. -Entrepreneurship Entrepreneurship also is regarded as one of the factors production. This is because entrepreneurs are a group of people who responsible for carrying out the production process. Although we have factors of land, labor and capital, but if the entrepreneur does not take action to implement the production process, then production process and thus output or output of goods or the service is not going to happen. An important difference between entrepreneurs with land, capital and labor is the entrepreneur is a person who willing to bear the risk of a production process. -Technology -Information In economics, factors of production are the inputs to the production process. Finished goods are the output. Input determines the quantity of output i.e. output depends upon input. Input is the starting point and output is the end point of production process and such input-output relationship is called a production function. All factors of production like land, labor, capital and technology are required in combination at a time to produce a commodity. In economics, production means creation or an addition of utility. Factors of production (or productive 'inputs' or 'resources') are any commodities or services used to produce goods and services. 'Factors of production' may also refer specifically to the 'primary factors', which are stocks including land, labor (the ability to work), and capital goods applied to production. Materials and energy are considered secondary factors in classical economics because they are obtained from land, labor and capital. The primary factors facilitate production but neither become part of the product (as with raw materials) nor become significantly transformed by the production process (as with fuel used to power

machinery). 'Land' includes not only the site of production but natural resources above or below the soil. The factor land may, however, for simplification purposes be merged with capital in some cases (due to land being of little importance in the service sector and manufacturing). Recent usage has distinguished human capital (the stock of knowledge in the labor force) from labor. Entrepreneurship is also sometimes considered a factor of production. Sometimes the overall state of technology is described as a factor of production. The number and definition of factors varies, depending on theoretical purpose, empirical emphasis, or school of economics. What is the relationship between economic resources and construction sector? Construction sector is also part of the business environment. Therefore, it also need the economic resources or factors of production to produce its products. Natural resources will be an input to the output of the sector to produce, as an example of the first instance of an entrepreneur who wants to build a house , he must economic resources to produce products. He must have capital, idea, land, labor, technology to achieve its aspirations.

Four Resource Inputs

The production of any good or service inevitably requires four types of inputs. First, is a large number of workers. This includes the carpenters, electricians, concrete workers, plumbers, roofers, painters, and everyone else who hammers, saws, welds, digs, and performs the assorted tasks need in the construction process. Second, is the tools used by workers. This includes hammers, electric saws, screw drivers, delivery trucks, scaffolding, paint brushes, shovels, and other equipment. Third, is have materials. This includes lumber, nails, screws, concrete, paint, roofing shingles, carpet, wallboard, bricks, and everything else that becomes the house. Fourth, is the organizer. This is the person, who makes the decision to build the house in the first place and then brings together the materials, workers, and tools needed to get the job done.

Factor payments to production factors

To obtain production factors, production factors have to be paid as a reward or returns. Each of the factors of production are different payment. Resource or Production factors Factor payments Land Rent or price Labor Salary or wages Capital Dividends or interest Technology Rent or price Entrepreneur Profit or return

LAND RESOURCE
In economics, land comprises all naturally occurring resources whose supply is inherently fixed. Examples are any and all particular geographical locations, mineral deposits, and even geostationary orbit locations and portions of the electromagnetic spectrum. Natural resources are fundamental to the production of all goods, including capital goods. Location values must not be confused with values imparted by fixed capital improvements. In classical economics, land is considered one of the three factors of production (along with capital, and labor). In some cases, land may be merged with capital due to the relatively small importance that land has in industrial and service sectors. Income derived from ownership or control of natural resources is referred to as rent. Land was sometimes defined in classical and neoclassical economics as the "original and indestructible powers of the soil." Georgists hold that this implies a perfectly inelastic supply curve (i.e., zero elasticity), suggesting that a land value tax that recovers the rent of land for public purposes would not affect the opportunity cost of using land, but would instead only decrease the value of owning it. This view is supported by evidence that although land can come on and off the market, market inventories of land show if anything an inverse relationship to price (i.e., negative elasticity). As a tangible asset land is represented in accounting as a fixed asset or a capital asset. Land, particularly geographic locations and mineral deposits, has historically been the cause of much conflict and dispute; land reform programs, which are designed to redistribute possession and/or use of geographic land, are often the cause of much controversy, and conflicts over the economic rent of mineral deposits have contributed to many civil wars, particularly in Africa. Land resources are very important to the construction sector. Among importance is As a construction site Each construction project carried out to land as the site for the building itself. If there are no suitable sites to choose , the construction activities will become difficult. It will also to affect the price of a building. When land values rise, it will be increased the project costs and ultimately affect the value of the building and the building price become high and expensive. This will affect our country economic. Therefore the value of the land there is the direct relationship with the value of such land. As a building material Every project undertaken must need the construction materials to build the building. Therefore, the land resource also play the important role as a mental substance. In the basement of the land , there are have many materials that can be used as a mental illness such as tin, iron, gold and so on. In addition the tree environments that can be become the wood to build a house like Chengal, confused and Giam. We can also get brick, aluninium, sand, Iron from the land resource. As an energy source We may be able to source water, Electricity, solar from land resources. We need the energy to carry out construction activities such as generating machine. Water is also very important for activities such as brick construction, use in plaster, and so on. We also need the wind and sun to dry out the building activity. Therefore, land resource very important to provide energy facilities on construction activity. If there is any problem of resource land it will give impact of construction cost and the time taken for this project so it is very important and we need to use resources well without abuses.

The issue land resource and impact to the economics

Rising prices of building materials. Currently increasing lack of economic resources, particularly for economic resources that can not be reused. These resources are petroleum, steel, gas and others. When lack of resources in the economy it will cause prices of construction materials and eventually lead to the increase in house prices. This is due to limited economic resources can not fill the human being is not limited. When rising prices are peat will also cause currency depreciation in the value RM for the same but could not buy the same goods than before. To overcome this problem we can import goods from overseas construction and the government can subsidize the price of building materials that can be downloaded. Lack of land land suitable for building dwindling. This is because the incremental people Malaysia. It also caused a lot of land is not 's managed well. This problem would annoy construction activity and increased construction costs and this will move to the consumer and the increasing cost of living and the national economy can not be built well. This is because people's purchasing power of money decreases and round the economy is slow. Therefore, the government can take steps to manage their land reclamation or well so there's no wastage. Non-responsibility by the supplier Some providers prefer to keep building materials building materials to increase the prices of construction materials in order to obtain greater profits. But to increasing prices of goods will cause the country's economic structure has deteriorated. Therefore, the government should strengthen the legal authority to resolve the issue with your order.

Information as a Resource
An overview of the characteristics of information as a resource in the information age Information is a resource on its own, as well as an asset to others. It falls within the resource hierarchy which starts with data, which leads to information, coming together as knowledge, and resulting in wisdom. Data can be defined as the undigested observations, or unvarnished facts. Information follows as the organized form of data. Knowledge is then the organized information which is internalized by its user and integrated with other bits and fields resulting from experience, study, or intuition . The final step is the integration of the knowledge into wisdom, which is information which has been made useful by theory relating the bits of knowledge to each other. There are six inherent characteristics of information as a resource: 1. Information is expandable: it is recognized that for specific purposes information may deplete, but in general, the more we have, the more we use, and the more useful it becomes. Information is certainly not scarce, and is available in profusion. This concept of "information-rich" may not necessarily be good, but may instead mean being "swamped". There are limits to the growth of information, but they lie in the time and capacity of people. 2. Information is compressible: It is possible to concentrate, integrate, and summarize information for easier handling. 3. Information is substitutable: Information can and does replace land, labor, and capital. It is the use of computers and telecommunications that aids in this phenomenon. 4. Information is transportable: Information can be tapped into just about anywhere; this has led to the idea of being remote as much more difficult to achieve since people and information can be taken to the remotest of places. 5. Information is diffusive: There tends to be an ability for information to leak. This leakage allows us to have more, and more of us to have it. 6. Information is shareable: No exchange transaction of information can take place, only sharing transactions, and this leads to an entire sharing environment. These six characteristics of information cause it to be not like any other resource that we as humans have had previous experience with. It is not subject to the laws of thermodynamics that we are used to applying to resources in the past. We as users, are also not able to own information like we are able to own resources such as land and capital. Information is, however, far more accessible that these resources, and has become our key resource. The quality, relevance, and usefulness of information does depend on who uses it, how astutely, and for what purposes. Our entrance into the information age has had many impacts on our way of life. One of these being the changes in the work force. The jobs and functions performed by the workers are becoming increasingly information oriented. We are now working in an information economy -- with information as the key resource. But similar to other resources, information must be produced, consciously used, and effectively deployed. It is important to be aware of the characteristics of our newest resource, so that we are able to use it efficiently, and benefit from it, as well as not abuse it.

How the information resource the affect economics of construction

It would be an ideal to build a building and it will influence the design of a building with the information obtained. For example, we will design a building that many window when we find Malaysia building

society need the good ventilation .So this can help develop small and medium industries supplying or supporting industries of building materials. It will help to create a new way to build or design a building or carrying out the R & D which that can increase the status of the construction of our country. It can help foster economic develop for the construction industry with a method or a good ideal. For example building green house is from information related to sustainability. So , with the good information resource the economic ultimately our country can be developed. When we have a new way we are able to attract foreign investors to come to Malaysia to invest here. With this economy can be built for a lot of capital into the country over and create a lot of jobs in the construction and screening for the purchasing power of dance. When you have a good resource information, it will help develop the country's economy. This is because when we create or design a good building and strategic to help develop an area that it will increase revenue individuals and industry support there area and also increase our national income.

Labour Resources
Since humans appeared on earth, we have had to work to secure what we needed to survive or to improve our standard of living. Needs are not satisfied without human effort that results in successful production. Our earliest ancestors had to gather, hunt, and farm successfully or die. The term labour in its most general use, refers to productive human work. Through much of history, it was not treated as a commodity that was paid for. Our nomadic ancestors laboured together in the gathering, the hunt, and other tasks and collectively shared the results according to the customs of the time. Farmers grew their crops or raised their livestock and traded them for other goods or services using a barter system of exchange. A slaves labour was forced, whereas that of many a peasant was exchanged for protection and the use of land. To the present day, much productive work is done without monetary payment. In construction work, labour has important duty to complete and performed the construction progress on site, they will be categorized according to their skills and trades. Trade is a labour that is skilled in a scope of work and they will concentrates on their own scope of work, so the maintenance can be done easily. Types of Construction Labour Skilled workers Unskilled workers General labours

SOURCES OF LABOUR
There is two sources of labour which is: - Local Labour - Foreign Labour Local labours are those who come from our own country and have the citizenship as Malaysian. Usually local labours work as skilled workers because of their skill and areas ofexpertise. While foreign labours are imported labours ,most of them come from Indonesia , Myanma r,India , Bangladesh and so on. They can fill in the un-skilled workers position and their payout are much lower than local labours but this does not include the cost to import them. Malaysian construction industry has been generated by foreign labour because of shortage in local labour. Local labour shortage cause by the high wages demand and low future expectation from this manpower sector.In 2001, Migrant labour makes up approximately 20 percent of the Malaysian workforce. The country currently has between 1.7 million to two million foreign workers, of whom 770,000 are legal.In 2010, there were 2.01 million foreign workers in the country and that the number would begradually reduced by half by 2015.

Reasons of increasing in number of foreign labors and decreasing of local labors in our construction industry
-The main reason they converge on our nation is to get better job opportunities than in their home countries. -Their main goal is focused to Malaysia because there is a lot of work here to give high income. -Demand for foreign labor from abroad by the employer in Malaysia. -As Malaysia is a country surrounded by the sea, the beach is too broad conditions render the control of the authorities to be limited.

-Lack of productive people in our country -Our population is highly educated and do not like to work in the construction sector -Rapid development in the services sector, causing many workers move into the sector to acquire high profits.

Issues of labour and impact to the economics

Minimum Wage Act This Act is good for workers and increase the purchasing power of the community. This will help improve our economy because the money round to be quick to help add more productivity. Unfortunately it will also exist a problem, for which no small industry that a lot of capital, this act will burden them and this cost transferred to the customer. Otherwise it can not help develop the country's economy. Therefore, the government played a role to ensure that this act will not burden consumers but improving economy. Lack of skilled jobs in the construction sector we are in need of skilled workers to play a role in some work. This will cause an employee is imported from abroad. When import too many workers from outside it will prompt some problems such as reduction of our country's GDP because money overseas withdrawals to be great. It will Exchange rate of the national currency value degenerated because too many people have kita.When national currencies employers prefer to hire foreign workers will Cause unemployment incidence in our country and the lack of national income because it will reduce the productivity of our society and ultimately reduce GDP. It would also have given rise to the problem of competition between local workers with overseas workers. Table 1.1 : Number of Foreign Workers In Malaysia Construction Industry, 2006-2008 Year Sector Maid Manufacturing Plantation Construction Services Agriculture Total
r

2006
Total

2007 % 16.6 34.6 18.9 14.3 8.9 5.6 100

Total

2008 % 15.4 35.9 16.5 14.4 9.8 8.1 100

Total

% 14.2 35.3 16.2 14.9 10.3 9.1 100

310,662 546,412 354,124 267,809 166,829 123,373 1,869,209

314,296 733,372 337,503 293,509 200,428 165,698 2,044,805

293,359 728,867 333,900 306,873 212,630 186,967 2,062,596

Labour factors that affecting constructions economy

Excessive on unskilled labour Too much of unskilled labour might reduce the cost of labours needed but actually it will lead to delay in the construction progress and cause lagged to the project. They take longer time to finish certain works and tend to make mistakes. Lots of redundant can occur to commit the requirements of the project and this will increase the cost of project, thus affect the economy. Diseases

Foreign labours can be carrying a disease from their country and it could be spread over during interaction between labours. Worse case when it can bring to death then it will be so many problems to the employer. Let say the disease got spread over the site then a quarantine is a must and this will effect construction work programme. It is a delay for all kind of works at site and cannot be in schedule anymore. Once project got delayed then it would be an increment on cost of project that simultaneously effect the economy. Crime Crime can occur between them or with the public; this is during their off day when they visit a town due to money problem. Sometime it is employer fault in delaying their wages and sometime it is because of debts. Crime such as robbery and fighting increase in a great number among the foreign worker and there are some of them making a protest. When there is a protest work will be delayed and this effect on the progress of work. Cost increase due to lagging and affect the economy as well. Illegal foreign worker (expired permit) Employer did not renew the expired permit as per requirement for their labour. The labour work on site without permit and it could be dangerous for them if their insurance also did not be renewed. Any incidents on site whether they got caught by local authorities or unwanted accidents could cause a big problem to the employer. Any pending circumstances on the labour matters could lead to delay in projects progress thus effect the cost and economy of the construction.

Factors affecting number of labours in each construction site

Payment Late of payment from the client will bring trouble for the employer to pay their labours, pay the sub-contractors and buy materials. If the labours did not get paid they will protest and any works cannot be done. Projects progress depend on the number of labours working on, so any pending payment would cause in the increase and decrease of labours number. Welfare Employer need to be aware of their labours welfare to ensure the progress of the project is in line with the projects schedule. If the righteousness of the labour were taken for granted by the employer then they will refused to work, so any welfare related to labours such as place to live, entertainment, aids, leaves and etc should be sufficiently provided to ensure the smoothness of work. If all the worker happy and feel secure during working then it will be no problem for them to commit in their works, hence there are no problems of insufficient labours. Overwork Labour are also a human so they need rest to recover their energy but if they are overload with works then fully concentrate on what they are doing. Some employer have more than one projects in hand so they will push their manpower to work overtime and usually they will divide the manpower depend on the weightage of the work. It effects on the number of workers on site.

Mind map on how the labour resources affect the national economy
Land Projects period & cost implication

Resource in construction

Labour matters

Construction economy

Malaysia economy

Labour factors that affecting construction economy - Unskilled labour - Disease - Crime - Illegal foreign worker Factors affecting number of labours in each construction site - Payment - Welfare -overwork

Capital

Technology

Definition of technology
Technology is the making, modification, usage, and knowledge of tools, machines, techniques, crafts, systems, methods of organization, in order to solve a problem, improve a pre-existing solution to a problem, achieve a goal, handle an applied input/output relation or perform a specific function. Seven resources of technology 1. People People are the most important resource. Without them, no products would exist. Peoples needs and wants inspire other people to create products to fill those needs and wants. People create the designs, people produce the products, and people sell the products. People do researches , they do countless experiments to create something that is new and useful. Other than that , when new technology is being invented , people will try everything to promote the new technology to people . This is to make sure that the public know , acknowledge and make use of the technology .For an instance , the IBS Roadmap 2003 -2010 has been endorsed by the Cabinet of Ministers to be the blueprint document for the industrialization of the Malaysian construction sector. Since 2003, the government of Malaysia together with its agency, the Construction Industry Development Board has been aggressively pushing the construction industry to use of the Industrialised Building System (IBS) method of construction. It is part of an integrated effort to further enhance the capacity, capability, efficiency and competitiveness of the industry and also to reduce the industrys reliance on foreign workers. It is also an effort to promote cleaner, safer, simpler and efficient method of construction .Besides, in February 2010, the CIDB together with industrys stakeholders has met up to strategise the green technology and sustainable agenda. The aim is to formalise the strategic direction in green construction and sustainable. So , people are the main resource for technology . 2. Information Companies use many kinds of information to make a product. This includes Information about similar products that are already being sold. Information from potential customers about what they would like to buy. Laws and regulations. News about new materials and processes. Drawings that tell how to make the product. Work schedules. Information given to the computers that control factory machines. Information is another resource of technology in construction industry .Information collected by carrying out survey will be transform into statistic form and relevant party will interpret the data and they will make deduction regarding the outcome of the information collected . After that , amendment will be made to improve , to create something new and better . So , information will indirectly contribute to the improvement of technology in construction industry . Information such as laws and regulations are important as manufacturers must know the dos and donts when they are trying to invent or make an innovation to something .This will make sure the product is safe for use in every single aspect. With information , scientists will be able to know the latest method to create something new .They will try to use the method to create an advanced way of construction method or materials 3. Capital(money)

Capital includes the money, land, and equipment needed to produce the product. Money is used to build factories, pay workers, and buy materials. Other than that , money is needed to promote the new invention to people .When a new technology is unveiled , companies will evaluate the new technology , if they think it is good enough then they will invest in this new product . They will spend huge amount of money to promote it to the public .For example , Malaysian government see IBS as something that can enhance the quality and performance of construction industry so they put a lot of money in it to promote this method of construction to the public .Therefore , it is fair to say that money is one of the resources of technology in construction industry . 4. Materials Materials are all the things used to make up a product. All materials come either directly or indirectly from nature. They are classified as either a) Natural materials are those that are used much as they are found in nature. They include such things as wood, metal ores, and water. b) Synthetic materials do not occur in nature. They are made by people using natural materials. Most plastics, for example, are made from petroleum, natural gas, or plant fibers. The discovery and development of materials with useful properties such as conductivity, nonlinear optics, chirality, sensing, thermal stability and mechanical resistance are essential for technological progress in our society .With better materials , human being stand a better chance of discovering a new and advanced technology. 5. Energy Technology systems use energy to change materials into products and to deliver those products to stores and customers. Energy enables the computers and other machines to operate and brings light, heat and air conditioning to factory buildings. 6. Machines & Tools Tools and machines are used to help change materials into a finished product. They may include hand tools, portable power tools, and large machines and heavy equipment. The materials may change in shape, size, and internal structure. They may also be combined with other materials.

Construction Issues
- Skills shortage The number of unskilled workers in construction industry is greater than the number of skilled workers .Shortage of skilled workers will do no good to a construction project as there are some works that will require certain specific knowledge and skills . Superior construction technology requires highly skilled workers to replace foreign workers but contractors left with no other choice. Local workforce is reluctant to join the industry because of the issues of low wages combined with low emphasis on occupational safety and health. The current training program to produce new construction workforce is still not be able to cater vast demand of the market .For example , contractors in Malaysia are also lack of past experience in IBS and their professional is lack of technical knowledge in this area . -Low level of productivity Malaysia attracted a huge number of foreign workers into the country to take up employment on site as unskilled labor doing manual jobs. According to Construction Industry Development Board (CIDB) Malaysia, 69% (552,000) out of total 800,000 of registered workers as at June 2007 is foreign workers. Foreign workers are usually unskilled when they first arrived in Malaysia and this impacted the productivity and the quality of the construction industry. The social problems associated with foreign

workers, further aggravates the situation. The local workforce and new graduates were reluctant to join the industry due to the 3D Syndrome (dirty, difficult, and dangerous) which has been long associated with the industry. The productivity level of construction is worth RM 20,511, which an increase 1.52% from the previous years. Nonetheless, this growth is relatively low when compared to other industry . - Procrastination of construction project Delaying of progress of construction projects is a normal condition in construc .This could be due to a few reasons like shortage of workers ,old traditional construction methods that are time-consuming .So , technology are needed to improve the situation . -Indifferent response from industrys stakeholders on most of the latest technology Usage of latest technology in Malaysian construction industry may not be as good as expected . For example ,early survey in 2003 reported in IBS Roadmap 2003-2010 (2003) and IBS Survey (2003) indicate that only 15% of overall construction projects in Malaysia used IBS. However recent study in 2006 published in IBS Roadmap Review shows that the percentages of completed projects using more than 70 % of IBS components in the construction project are in the range of 10%. Additionally, less than one third of total construction projects using at least one IBS product in the year (IBS Roadmap Review, 2007). This percentage is lower than expected despite huge publicity campaign from the government. The actual projection for percentage of completed projects using IBS is in the range of 50 % in 2006 and 70% in year 2008 (IBS Roadmap, 2003). Despite well-documented benefits, the take-up so far, while reasonable, is not as high as the government anticipated at this stage .This could due to a few reasons . Many small contractors are reluctant to adopt IBS system and prefer to continue using the conventional method of construction. This is due to the fact that small contractors are already familiar with the conventional system and for them the technology suit well with small scale projects and therefore not willing to switch to mechanized based system. Furthermore small contractors lack financial backup and are not able to set up their own manufacturing plants as it involves very intensive capital investment. In this case, financial issues become the main obstacle for small contractors to move forward with the IBS system. In the perspective of components manufacture, IBS construction requires high initial investment capital for pre-casters to purchase new machinery, mould, importing foreign technology and wages of skilled workers for installation process.

The impact of technology on construction to economics performances

Economists define technology as ideas, or knowledge, that help us produce output from inputs.Having more technology means being able to produce more output with a given amount of inputs.Project construction has used technologies to boost the construction development. With the changing and advancement of technology, we are able to design and construct the buildings with more accuracy which improves the quality, standard and punctuality of the completion of projects. -Increase productivity With high technology equipments, productivity surely will improve .With the improvement in productivity , construction performance will boost and then GDP of construction industry will surely increase . -Improve safety The technology in construction helps to reduce the site operation. This meant that some of the heavy works will be done by the machines and equipment. Therefore, the technology will help to reduce the burden of the workers. This will decrease the injuries and accidents among the workers. So, it can be said that technology helps to improve the safety in construction sector. By this way, the medical cost of workers can be reduced and it will help to increase the income of construction sector. -Reduction of source of human labor

The foreign workers have had an impact on wage structure , labour market ,competition with locals .Another perceived bad impact is the high remittances sent out by foreign workers back to their home countries . This resulted in the flow of currency into foreign countries without control and in turn will affect the balance of payments .Foreign workers are also thought to be responsible for the higher rate of inflation because of their increased demand .They enjoy public goods without paying taxes and user .As such they become the free-riders in Malaysia economy .They are ensured health and other facilities without making any payments. Usage of technology will also decrease our reliance on foreign labors as machine are used instead of man .Number of foreign workers in Malaysia increases year after year ,with technology , owner will pick a much efficient way , that is using the technology . The phenomenon of continuous outflow of currency into foreign countries will be reduced .Therefore ,economic growth of Malaysia is ensured . -Conservation of resources Technology turns out to have a very important role to play in overcoming the limitations imposed by diminishing returns to labor and capital. At many points in history, prophecies of doom have been announced based on the idea that scarcities in one input or another (land, oil, people) will bring economic growth to a grinding halt. These prophecies have been disproven so far mostly because of technological progress: we have learned to produce more with less of the scarce inputs, thus reducing the dangers posed by the finiteness of available resources. . Even if the input has no inherent limitations on the quantity (e.g. capital), the productive use of that input may be reduced because of diminishing returns. For example, if one of the factors (labor) is limited, adding more and more capital will soon lose its effectiveness because diminishing returns will set in. Additional units of capital will cease to be as productive because of the absence of other complementary inputs like labor. Given the finiteness of resources, the country that is continually coming up with better ways to use those resources is likely to be better o than the country relying exclusively on more inputs being available. In other words, more productive countries are able to sustain rates of growth for longer .The same theory applies to construction industry .With the application of high technology machine and new invention , usage of resources particularly natural resources will be greatly reduced . This ensure positive economic growth in our country .

Capital resources.
In economics, capital, capital goods, or real capital is a factor of production used to produce goods or services, which itself is not used by many, although it may decline in value of the manufacturing process. Capital goods may be found with money or financial capital. At any time, the amount of physical capital can be referred to as the capital stock, the use of different capital stock in the business principle. Capital is an input to the production function. In finance and accounting, capital generally refers to financial wealth is stored, especially used to start or maintain a business. Financial concept of capital received by most entities in the preparation of financial reports. In the financial concept of capital, such as invested money or invested purchasing power, capital is equal to net asset value or equity of an entity. In the physical concept of capital, such as operating capability, capital is regarded as the productive capacity of the entity based on, for example, units of production per day. Capital resources are any goods that are used in the production process to produce a good or service. For manufacturing any product, we need some goods which have certain properties that are essential for ensuring the durability and utility of the product. These goods which are used in production of new goods and services are defined as 'capital resources'. In order to achieve production targets and deliver high quality products to the customers, we should have these resources in plenty. Any shortage can bring the entire production process to a standstill. Because of this, the sales and profits of a company are affected. Importance of capital resources. Capital resources are considered to be a part of the entire production process. They are useful even in businesses which do not offer goods, but provide services to clients. In fact, they are the inputs which any organization has to use for getting the desired products. Over the years, customer expectations from products have risen tremendously. Today's buyer wants innovative, new and technologically advanced products which provide real value for the money paid. So, naturally, those firms which are not able to produce such products will lag behind in the race of acquiring new customers. Therefore, the key is to improve the resources used for production purposes and make them more technologically advanced. Resource Safeguarding: Safeguarding the available capital resources is as important as improving their quality. A company invests a big sum in acquiring and developing these resources and so, any kind of wastage will result in heavy financial losses and interruptions in the production process. So, keeping these valuable resources safely and under inspection of trained professionals is very necessary. An asset should be such that it is useful in the process of production for a very long period. Technically, any goods which cannot be used consistently for making new goods cannot be considered in this category. Capital resource is that asset with a production unit which comes handy in storing finished goods which are ready for sale. This is yet another important property Cash in hand is not considered as many experts describe it as the thing required to buy a capital resource rather than a capital resource in itself. Examples of Capital Resources: Manufacturing machinery: Manufacturing machinery can be used to produce goods for a long period (several years) provided it is well maintained and serviced. Warehouse: A warehouse can be used for the storage of finished or ready for sale goods. Land: Land is a long servicing source of natural resources.

Power Generators: A power generator is needed in keeping the goods producing machines working. Buildings: If services are provided to customers in buildings, then they are included in the category of capital resources. Maintenance equipment: Maintenance equipment is required for ensuring smooth operations of the machines producing goods. Capital resources like plant and machinery are useful in the computation of manufacturing overhead costs which help a factory know its profits.

2 type of capital
Physical capital Example: appliance, machinery and factory

Working capital Example: Money, semi-finished goods or finished goods

Construction Issues
Cost Management Financial problem is a problem that most dominating Bumiputera contractors in Malaysia. If financial problems hit contractors, the risk of failure to implement a project is high. The main problem identified is the progress payment delays by clients, lack of capital and bank loan problems. Of the total respondents, 77% bank loan as financial resources What is worrying is that 36% of respondents do not use any techniques of cost control in construction projects. In the absence of cost control techniques, of course, the project cost will exceed the value of planning. Have often occurred abandoned projects, the primary problem is the lack of money. Building Material Problem After analysis of the management of construction materials was found that there are many contractors do not do all the activities outlined for building materials. As an example only 42.9% of production and consumption of 57.1%. The problem that will arise is the materials to be used at will without record use and cause less material and so on.

Among the problems identified is the delivery of materials by suppliers who are not on time with (index mean 3.4). This problem will spread as without substance, the construction work will be disrupted. The other problem is difficult for contractors to get construction materials, waste materials and poor quality materials. Identified the main cause is the lack of material, followed by rising prices without control. This problem can be solved if all material management activities that have been discussed practiced as plan and book early with all required materials. Machine Problem The analysis shows that the main problem is the expensive machinery rental rates for contractors who rent machinery. Obtained from the study, 86% of respondents state that the plant is used sometimes damaged. Other problems such as increased costs due to frequent damage and interfere with other activities. This damage occurs due to lack of machinery maintenance least take note of the machinery will affect the life, workability and ability machinery.

Construction entrepreneur
What is Construction entrepreneur
- An individual who starts new ventures in the construction industry. - Construction entrepreneurs normally begin with an idea for a product or service. -They can determine which methods to use, how much funding is needed, and where demand for a service is highest. -Green construction entrepreneur - focuses on creating environmentally friendly structures. - Architect entrepreneur - focus on innovate construction -Deals with the knowledge, skills and attitudes required to assemble resources in an effort to transform innovations into economic goods. - Used by society to produce consumer satisfying goods and services. -Entrepreneurship is the special sort of human effort that takes on the risk of bringing labor, capital, and land together to produce goods. -This resource takes on the risk of organizing production before anything is produced and with no guarantees that production will be successful -Barriers that were distinguished on the basis of the market and system failure framework were the: -Beliefs and old routines that keep actors imprisoned in the old paradigm (soft institutions), -Rules and regulations which were considered to lack long-term vision, clarity, coherence and consistency, making entrepreneurial strategy and action difficult, -Strong market dominance of incumbent firms in the construction industry that blocks the entry of new actors, products, processes, and practices. Hence, the entrepreneurs seem to make a very conscious choice in dealing with these barriers, based on their interpretation of to what extent they can change the status quo, and to what extent they can either benefit or suffer from engaging into close relationship with the vested interests of the incumbent firms

The role of entrepreneur

-Catalyst for change & economic development -Produce positive individuals (resilience, survival, competitiveness) Developing entrepreneurial culture in society -Contributing to the well-being of the economy. -Enhance national competitiveness internationally. -Contribute to the development of entrepreneurship and business related. -Contribute ideas and reforms. -Planning ideas and opportunities -Manage, produce, and distribute. -Offering jobs

Issues of entrepreneur and the impact

Offering job opportunities If many entrepreneurs from the construction sector it will offer employment opportunities to the community. This case because every business needs people to carry out activities in the building. Indirectly, this situation will be able to reduce unemployment and increase household income and GDP of the country.

Developing supporting industries Large organizations typically require service for support for the operation of industrial and construction activities run smoothly. The existence of these support industries to accelerate economic growth through added jobs, tax payment and increase productivity. Using local resources Construction organization will buy the raw materials to be used in the production process to produce output. The raw material used to increase the value of a country's economic activity through upstream and downstream activities. Entrepreneur optimal use of local resources without waste.

Conclusion
Resource economics is a subdivision of economics dealing with the scarcity of the Earth's natural resources, particularly how it relates to humans' uses of those resources. Resource economics deals not only with use, but also sustainability of those resources. Thus, this field of economics is particularly interested in those fields which take resources from the Earth, whether renewable or non-renewable. One of the fundamental rules of any economics discipline is the question of trade-offs. The assumption exists that we will always want more than we can have and gaining something naturally means we are doing without something else. Thus, there is a trade-off. However, resource economics often takes a slightly different look at trade-offs. Resource economics does not suggest that we are using natural resources at the expense of using or gaining another natural resource, in most cases. Rather, the resource economics theory posits we are using these resources at the expense of future generations. Therefore, the question relates to how can we sustain those natural resources, yet find a solution that is also socially and economically satisfying.

Meeting the Needs With Limited Resources

-We need to mastering the management of knowledge in business management more efficient. -The most efficient method of production-whether to labor-intensive methods or capital-intensive. -Appropriate marketing strategies in distributing products to potential users. -Give priority to the production of which is expected to provide returns that much. -Saving for future use.

REFERENCE
Read more: http://www.businessdictionary.com/definition/resource.html#ixzz2EC3wrycV http://thevenusproject.com/en/the-venus-project/resource-based-economy - http://www.wellesley.edu/Economics/weerapana/econ102/econ102pdf/lecture%20102-14.pdf - Barriers to Industrialised Building Systems: The Case of Malaysia - Collaboration initiative of green construction and sustainability through Industrialised Building System (IBS) in the Malaysian construction industry - Green Building Technology: The Construction Industry Perspective and Current Initiatives