Question

Name the factors which of the following resources relate to :

RESOURCE FACTOR
1.Computer
2.Personal secretary
3.Raw materials
4.Laboratory equipment
5.The administration block

Answer 1

1. Computer; Capital

2. Personal secretary; Labor

3. Laboratory equipment; Capital

4. The administrative block; Capital

Step-by-step explanation:

The factors of production includes;

a. Land; Which comprises of the natural resources

b. Labor; Physical and mental human resources

c. Capital; Encompasses resource which are manmade, including equipment and buildings

d. Enterprise; The act of or the combination of the other three factors of production

Therefore;

1. Computer; The computer is a manmade resource and is therefore a capital resource

2. Personal secretary; A personal secretary contribute mainly mentally to the production of goods and services and is therefore a labor resource

3. Laboratory equipment; The laboratory equipment being manmade is a capital resource

4. The administrative block; An administrative block is a building and is therefore a capital resource.