Question

20. Which of the following list correctly reflects a category of resources:

A. Land: whiteboard in a classroom, a barbershop owner, professor at a college

B. Capital: mirror at a barbershop, ATM machine at a bank, oven at a pizzeria, bank clerk

C. Labor:  professor at a college, landlord of a real estate-firm, doctor at a hospital, mayor of a city

D. Enterpreneurship:  a partner in a major law firm, a stockholder, a bestselling author

Answer 1

20. Which of the following list correctly reflects a category of resources:

Answer is -

B. Capital: mirror at a barbershop, ATM machine at a bank, oven at a pizzeria, bank clerk

Here, When describe about Capital Category resources that time, Capital resources includes Human made resources such as Machinery, Building, Infrastructure so B option is correct, Which Reflects Resources category, cause here

i) Mirror of Barbershop is capital for Barber

ii) ATM Machine is Capital of Bank

iii) Oven is also Capital for Pizzeria

iv) And Bank clerk is also capital for bank cause Labour called “Human Capital in Classical Economics”, it is intangible Capital which produce Goods and services, that why in Capital resources Labour is included as Human Capital, So Here Bank clerk provide service, so he is Human capital for Bank.

So Option B) Capital- is correct cause all available resources part of capital.