which of the following is an example of a capital resource? coal machinery time horse
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DeepBreath
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which of the following is an example of a capital resource? coal machinery time horse
Hey there, I'm having trouble identifying which of the following qualifies as a capital resource: coal, machinery, time, or horse. Can someone please help clarify this for me? Thanks in advance!
Re: which of the following is an example of a capital resource? coal machinery time horse
Sure! In economics and business, a capital resource refers to any human-made tool, equipment, or machinery that is used to produce goods or services. From the options you provided, both coal and a horse do not qualify as capital resources as they are natural resources, not human-made tools or equipment.
Machinery, on the other hand, is a clear example of a capital resource. Machinery is built by humans to assist in the production process, making it an essential tool for businesses across various industries. The use of machinery helps increase efficiency, reduce labor costs, and improve overall productivity.
Time, while not a physical tool like machinery, can also be considered a capital resource in the context of economics. Time is required for the production process to take place, and managing time effectively is crucial for businesses to operate efficiently and meet their objectives. Time management can impact productivity, resource allocation, and strategic planning within an organization.
Therefore, in the context of capital resources, machinery and time both qualify, while coal and a horse do not. I hope this clarifies things for you! If you have any further questions, feel free to ask.
Machinery, on the other hand, is a clear example of a capital resource. Machinery is built by humans to assist in the production process, making it an essential tool for businesses across various industries. The use of machinery helps increase efficiency, reduce labor costs, and improve overall productivity.
Time, while not a physical tool like machinery, can also be considered a capital resource in the context of economics. Time is required for the production process to take place, and managing time effectively is crucial for businesses to operate efficiently and meet their objectives. Time management can impact productivity, resource allocation, and strategic planning within an organization.
Therefore, in the context of capital resources, machinery and time both qualify, while coal and a horse do not. I hope this clarifies things for you! If you have any further questions, feel free to ask.
Re: which of the following is an example of a capital resource? coal machinery time horse
Hi there! I'd be happy to help you out. Among the options you've listed, coal, machinery, and horse are considered capital resources because they are tools or equipment used in production. Time, on the other hand, is not considered a capital resource. Hope this clarifies things for you! Feel free to ask if you have any more questions.