For a factor of production to be called capital it must:Question 19Select one:a.be produced.b.occur in the natural environment.c.be a part of human skill.d.be a result of a stock issue
Question
For a factor of production to be called capital it must:Question 19Select one:a.be produced.b.occur in the natural environment.c.be a part of human skill.d.be a result of a stock issue
Solution
For a factor of production to be called capital, it must:
a. be produced.
Capital refers to goods that are used in the production of other goods. These are not naturally occurring resources (like land), or human resources (like labor), but are goods that have been produced for use in production. These can include machinery, buildings, and other infrastructure.
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