ECONOMICS
SCARCITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Physical Capital
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Human Capital
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Either A or B
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None of the above
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Detailed explanation-1: -Capital is a factor of production that refers to any human-made resource that is used to produce other goods and services. Human capital refers to the knowledge and skills a worker gains through education and experience. Physical capital refers to the human-made objects used to create other goods and services.
Detailed explanation-2: -Capital is any human-made resource that is used to produce other goods and services.
Detailed explanation-3: -Physical capital consists of inanimate assets such as cash, job site equipment, property, and inventory. Human capital, meanwhile, describes the skills, knowledge, and capabilities associated with a company’s personnel.
Detailed explanation-4: -Physical capital consists of man-made goods that assist in the production process. Cash, real estate, equipment, and inventory are examples of physical capital.
Detailed explanation-5: -Capital Any human-made resource that is used to create other goods and services.