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Question 4 of 40

A factory would be considered what type of economic resource?
A. Labor
B. Entrepreneurship
C. Capital
D. Land
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User JoseKilo
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2 Answers

16 votes
16 votes

Answer:

C. Capital

Step-by-step explanation:

Hope this helps!!

User Piler
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25 votes
25 votes

Answer:

C. Capital

Step-by-step explanation:

An economic resource can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.

The four (4) fundamental economic resources are;

I. Land: this refers to the natural resources and raw materials extracted from the ground or grown in the soil e.g oil, gold, rubber, cocoa, etc.

II. Labor (working): this is the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.

III. Entrepreneurship: it is intellectual capacity required to drive a business and the skills to develop an idea into a money making venture (business).

IV. Capital: it includes the physical assets used for production of goods and services such as equipment, money, plant or factory, etc.

Hence, a factory would be considered as a capital type of economic resource.

User Zooblin
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