A construction crane is an example of ___.

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BlackTom AI · Accepted Answer

When considering economies of scale and factors of production, it's helpful to categorize assets by their roles in creating goods and services.
Option 1: entrepreneurship. This refers to the human activity of organizing resources, taking risks, and innovating. A construction crane is not itself an entrepreneurial act or a responsibility; rather, it is a tool used by entrepreneurs. So this choice mislabels the object.
Option 2: labor. Labor denotes the human effort used in production. A crane is not a person or a person’s effort, so it does not fit the definition of labor.
Option 3: physical capital. This category includes man-made physical assets like machinery, buildings, and equipment used in production. A construction crane is a classic example of physical capital because it is a durable, tangible asset that helps produce goods or services (like lifting heavy materials on a construction site).
Option 4: land. Land refers to natural resources and territorial space. While land can be a factor in construction, the crane itself is not land; it is a man-made instrument used within a site rather than a natural resource.
In summary, among the provided options, the most accurate classification for a construction crane is physical capital because it is a manufactured asset that facilitates production, distinct from entrepreneurship, labor, or land.

ECON 2002.01 AU2025 (21333) Midterm Exam 1- Requires Respondus LockDown Browser

A construction crane is an example of ___.

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