ECONOMICS
SCARCITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Wood
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Microwave oven
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Coal
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Entrepreneur
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Detailed explanation-1: -The stove, microwave, plates, bowls, spoons, and other cooking tools are the capital resources.
Detailed explanation-2: -An oven is considered as a physical capital as it is machinery that is used to make something that creates further value.
Detailed explanation-3: -Capital resources include money to start a new business, tools, buildings, machinery, and any other goods people make to produce goods and provide services.
Detailed explanation-4: -Bakery: Imagining the production process of a bread loaf in a bakery; the bread pan, molds, mixing and grinding machines, oven etc. all are examples of capital resources employed by a bakery. All of these assets are made by man and play a substantial part in the production of bread.