QUESTION IMAGE
Question
read the passage.
economics is the study of how people use resources to satisfy their wants and needs. resources include natural resources, human resources, and capital resources. because resources are not limitless, people must make decisions about how to use these resources. wise individuals evaluate costs and benefits carefully before deciding how best to use resources.
which is an example of a capital resource?
- the people who work at a bank
- the minerals that are found in the ground
- the machinery used to produce electricity
- the knowledge of how to design a power plant
Capital resources are goods manufactured by humans. The machinery used to produce electricity is a manufactured good, thus it is a capital resource. The people who work at a bank are human resources. The minerals found in the ground are natural resources. The knowledge of how to design a power plant is human - related (human capital in a broader sense but in the given categorization, machinery as a physical manufactured good is more directly a capital resource).
Snap & solve any problem in the app
Get step-by-step solutions on Sovi AI
Photo-based solutions with guided steps
Explore more problems and detailed explanations
- the machinery used to produce electricity