O A. Pine trees in the great northwestern US forests. B. a table saw used to produce furniture in cabinetry shop. O C. the most efficient blueprint of auto production.
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- Which of the following is an example of capital as a factor of production? Group of answer choices Stocks Bonds money Equipment used by businessesWhat is the opportunity cost of investing in a physical capital?Consider a simple economy whose only industry is fishing. In this industry, productivity-the amount of goods and services a worker can produce per hour-is measured by the number of fish one fisherman catches per hour. In the following table, match each example to the productivity determinant it represents. Human Capital Examples A route fishing boats can follow to maximize their catch at different points in the day The boats in the fishing fleet The fertile waters in which the fish feed and breed The skills workers develop through training before working on and piloting boats Natural Resource Physical Capital Technological Knowledge
- When Main Street Bank buys new automatic teller machines, the quantity of land and natural resources labor O physical capital entrepreneurial ability, technology, and ideas in the economy increases.Which of the following is NOT a factor of production? A. trucks used by a furniture company for deliveries B. a person developing a production schedule for a new product C. financial capital, or money available to be loaned or invested D. forested areas that have yet to be developedCapital goods Which points on the graph show the most efficient use of this society's resources? B (B, C, D, E) (A, D, E, F) (A, B, E, C) Consumer goods (A, B, C, D) ^
- Consider a simple economy whose only industry is fishing. In this industry, productivity-the amount of goods and services a worker can produce per hour-is measured by the number of fish one fisherman catches per hour. In the following table, match each example to the productivity determinant it represents. Natural Resources Technological Knowledge Human Capital Physical Capital Examples per Worker per Worker per Worker A route fishing boats can follow to maximize their catch at different points in the day The skills workers develop through training before working on and piloting boats The boats in the fishing fleet The fertile waters in which the fish feed and breedMany economist and business leaders feel this is the most important factor in the Factors of Production? a. Land b. Capital c. Labor d. EntrepeneurshipWhat are the three factors that impact productivity? Provide an example for each factor describing how productivity is impacted.
- Question 4 Classify each of the following as a movement along or a shift of the production function and provide a justification for your choice. (iv) The government invests in a new entrepreneurship training program (v) The government implements major reforms to make it easier to transact businessAdam Smith did not considered ________ as one of the component of productionThe source mentions a fourth factor of production: entrepreneurship. In what sense could it be viewed as a production factor