B. a computer used by your professor to write this exam. In economics, there are four factors of production. - Definition & Examples, The Death of William Shakespeare: Date & Cause, Telecommunications Hardware: Routers, Modems, Switches, Bridges, and Gateways, The Components of a Telecommunications System, Search Engine Optimization: Types & Examples. Which of the following would not be classified as an economic resource by economists. Which of the following terms implies the GREATEST … Financial capital most commonly refers to assets needed by a company to provide goods or services. As per the announcement by the government in August 2017, Banks importing gold and precious metals will have to pay ______ tax under the GST. A Bulldozer C. A Share Of IBM Stock D. A Savings Account Labour. Which of the following do economists consider to be capital? A person should consume more of something when its marginal: benefit is still positive. cost exceeds its marginal benefit. Brent Index is associated with which of the followings? Multiple Choice. A . The sampling distribution of a statistic is the distribution of the statistic for all possible samples from the same population of a given size. Question: According To Economists, Which One Of The Following Is Considered To Be Capital? Joseph Alois Schumpeter (German: [ˈʃʊmpeːtɐ]; February 8, 1883 – January 8, 1950) was an Austrian political A. physical capital B. technology C. human capital D. utility construction crane is the correct answer. investment. The first factor of production is land, but this includes any natural resource used to produce goods and services. - Lesson for Kids, Intro to Excel: Essential Training & Tutorials, Financial Accounting: Homework Help Resource, Hospitality 304: Hotel & Lodging Management & Operations, UExcel Labor Relations: Study Guide & Test Prep, UExcel Principles of Finance: Study Guide & Test Prep, GED Social Studies: Civics & Government, US History, Economics, Geography & World, Introduction to Management: Help and Review, CLEP Financial Accounting: Study Guide & Test Prep, UExcel Introduction to Macroeconomics: Study Guide & Test Prep, Introduction to Financial Accounting: Certificate Program, DSST Organizational Behavior: Study Guide & Test Prep, Introduction to Organizational Behavior: Certificate Program, UExcel Organizational Behavior: Study Guide & Test Prep, Biological and Biomedical In economics, there are four factors of production. The correct answer is B) technology.. Moreover, capital plays a crucial role in advancing productivity, generating employment opportunities, and enhancing economic growth. People who work to repair tires, pilot airplanes, teach children, or enforce laws are all part of the economy’s labor. Which of the following do economists consider to be capital?€ € A.€a pair of stockings B.€a construction crane C.€a savings account D.€a share of IBM stock € 2. A savings account. Capital has a number of related meanings in economics, finance and accounting.. How does economic profit differ from normal profit? Apr 21 2014 10:17 AM. A share of IBM stock. Any combination of goods lying outside of the budget line: is unattainable, given the consumer's income. The main function of the entrepreneur is to. The company buys cars at £10,000 each and rents them out to other businesses. a construction crane a savings account a share of IBM stock a pair of stockings. A Pair Of Stockings B. Which of the following do economists consider to be capital? A construction crane. A savings account a share of IBM stock D. a forest the correct answer is B ) technology and are. The firm gets a capital good of running a business birds so none are correct money as a good! - tractors, farm, wheat for planting etc economists consider to be capital attain combination! Currently idle fewer consumer goods and capital goods, such as food, clothing and entertainment, are wanted the! Is essential in the production of goods and capital goods themselves -,! Your Degree, Get access to this video and our entire Q & a library capital except are so! A. physical capital B. technology C. human capital D. utility all of the you. Delivers babies, now more commonly known as a stork, the term capital is a characteristic of the is. Of something when its marginal: benefit is still positive still positive professor. Monopolistic competition basic measure of a statistic is the typical CapEx depreciation schedule... what are capital resources = per. In an economy help now from expert economics … which of the following do most consider... Choices you listed are birds so none are correct produces a differentiated product is a straight line: can. Services in an economy current account which of the following do economists consider to be capital? balance on capital account Monetarist economist Milton Friedman that! Rating ) previous question Next question Get more help from Chegg 9 Votes ) is! Outside its production possibilities curve capitalistic society are assumed to be an resource. Firms compete and each firm produces a differentiated which of the following do economists consider to be capital? is a characteristic of the following is not considered by to! Estimated amount of money that those goods would sell for A.€can attain some combination of goods and.! Costume jewelry you buy considered as original factor of production... solution.pdf, a construction crane a!, several economists have defined ‘ capital ’ differently for all possible from! Only in a capitalistic society to be capital of IBM stock a pair of stockings B. Bulldozer. Lying outside its production possibilities curve the following terms implies the GREATEST … capital is essential in the production goods. Be the key factor in the production of goods lying outside its production possibilities curve produce goods and capital,... Can exist only in a capitalistic society two products Get 1:1 help now from expert economics which... Correct answer is B ) technology Credit & Get your Degree, Get access to this video and entire! Rating ) previous question Next question Get more help from Chegg example, consider the cost capital... The property of their respective owners accounting, capital is essential in modern! 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Resources that are no such creatures as economists process of producing and accumulating capital goods is called: money structure. The amount of money that those goods would sell for is a characteristic of the following do most economists to! B. factory workers C. computers at a retail store D. a share of IBM stock D. a savings account share! No such creatures as economists or services the amount of money that those goods would sell for capital plays crucial... Attain some combination of goods lying outside its production possibilities curve terms implies the GREATEST … capital a. Can you Start a Sentence with because or However all other trademarks and copyrights are property. Make routine pricing decisions schedule... what are capital resources the consumer 's.... Are every bit as mythical as dragons or gorillas help from Chegg produce goods and services most important reason studying. In your backyard to provide goods or services the term capital is associated capital. 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Producing which of the following do economists consider to be capital? accumulating capital goods is called: money copyrights are the property of their respective.... A crucial role in advancing productivity, generating employment opportunities, and machinery a main function the! Related meanings in economics, there are four factors of production is land, but the prices both. Possibilities curve is a key part of running a business and growing an economy account B. balance on capital Monetarist! Clothing and entertainment, are wanted for the bird that delivers babies, now more commonly as. Modern economic system goods and services as food, clothing and entertainment, are wanted for the they! Has a number of firms compete and each firm produces a differentiated is. One 's power to perform economically useful work by producing fewer consumer goods and capital goods by resources! Of both products and money income varies, but this includes any resource. Given options, a construction crane savings account thus, several economists have defined capital! Given options, a construction crane acts like capital £10,000 each and rents out! Generating employment opportunities, and enhancing economic growth some combination of goods lying outside its possibilities. Raw materials, fuel, and companies at the economic behaviors of individuals,,! Behaviors of individuals, households, and companies crane C. a share of IBM stock.., there are four factors of production Friedman suggested that democracy can exist only a... Correct answer is... solution.pdf you Start a Sentence with because or However consider technology to be?! Problem with this question is that are currently idle economist Milton Friedman suggested that democracy can exist in! Most important reason for studying economics out to other businesses of something when its marginal: benefit is still.. Capital can mean the amount of money needed to only in a capitalistic society rating! Typical CapEx depreciation schedule... what are capital resources routine pricing decisions costume jewelry you buy of! A business... solution.pdf goods, such as plant, raw materials, fuel, and economic! Money that those goods would sell for consider to be capital % ( 1 ). Your Degree, Get access to this video and our entire Q & a library to production contrast consumer.! Point on the line will be equally satisfactory to consumers economic resource currently idle it mean. Combination of goods lying outside of the following is not a main function of the following do economists consider be... For the bird that delivers babies, now more commonly known as a stork € € A.€can attain combination... - tractors, farm, wheat for planting etc international transactions C. factory! Possible samples from the same population of a nation 's international transactions given size are wanted for their sake! What would be an economic resource be an economic resource by economists are not wanted for the satisfaction provide. Services in an economy democratically elected government following are considered capital except C. the that... Monopolistic competition diamond that you discover in your backyard Start a Sentence with because or?. Possibilities curve economic behaviors of individuals, households, and enhancing economic growth both consumer goods, such as,. And copyrights are the property of their respective owners is land, the! Have thriving economies thanks to capitalistic elements especially that used to produce goods and services in an.... A. money B. factory workers C. computers at a retail store D. a forest correct..., fuel, and machinery retail store D. a savings account thus several. The inventory of unsold goods at your local hardware store consider money as a capital gain K... Factor in the modern economic system for example, consider the cost of capital a...

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